The news follows July’s announcement that the
bourse was conducting a strategic review of all clearing
operations. LSE chief executive Xavier Rolet left the board of
the bourse’s long-time clearer, LCH.Clearnet, last
The news makes it more likely that the LSE will build its
own, vertical silo-modelled clearing house, rather than
expanding the operations of Borsa Italiana’s
clearing house, Cassa di Compensazione e Garanzia.
Rolet’s announcement at June’s IDX
conference –- met with scorn in some quarters
–- that the bourse hoped to compete in European equity
derivatives trading by combining its two derivatives markets,
EDX London and the Italian Derivatives Exchange Market, may be
the first hurdle in gaining the support of clearing firms.
In July, head of markets Nicolas Bertrand said the bourse
would not "offer the full, complete universe in one go on EDX
or Idem", with new products mainly based on French, Dutch,
German and eventually Spanish stocks.