The Depository Trust & Clearing Corporation has pulled out of its deal to merge with LCH.Clearnet after the two clearing houses failed to agree terms.
The largest US clearer admitted defeat in its pursuit of the Anglo-French company in a statement on its website today (April 29).
The DTCC stressed that it had sought to finalise its non-binding agreement with LCH.Clearnet, announced in October, but hinted that the LCH.Clearnet board had failed to match the DTCC’s eagerness.
“The DTCC has continually communicated its desire to complete a successful merger to both the management and...