Embattled clearinghouse, LCH Clearnet, has entered talks with Depository Trust and Clearing Corporation (DTCC) regarding a potential takeover.
The Anglo-French central counterparty (CCP) was approached by DTCC earlier this year and talks have since progressed, it is understood. It is unclear when a decision will be reached as to whether to push their early and tentative discussions further.
LCH Clearnet has been growing under increased pressure throughout the year as it struggles to hold on to its largest clients. ICE Futures is set to breakaway from LCH Clearnet in July after taking the step of using its own acquired clearinghouse after buying New York Board of Trade in early 2007 while Liffe has said it will renegotiate its terms with the clearinghouse during the year. London Stock Exchange is also believed to be considering its...