Euroclear, the largest shareholder in LCH.Clearnet, will support any bid for the London-based clearing house that offers the lowest clearing fees, a spokesperson has told Futures and Options Intelligence.
In October the European clearing firm declared its support for the bid for LCH, declared by Depository Trust & Clearing Corp of the US. The deal was announced as an agreed merger worth €10 a share.
But last weekend it emerged that Icap and a consortium of banks were considering making a rival offer.
Market participants have said that LCH.Clearnet’s end users, which include many large financial firms, would prefer to maintain control of the clearing...