LCH’s Paris arm gains FSA approval
LCH.Clearnet SA, LCH’s French CDS clearing house, has been granted recognised overseas clearing house status by the UK’s Financial Services Authority. The approved status allows the CCP to do business in the UK. It applied for approval in October 2009.
Christophe Hémon, chief executive of LCH.Clearnet SA, said in a statement that: “FSA recognition as an overseas clearing house will enable us to broaden our clearing offering, bringing greater efficiency and security to the markets we serve across Europe. Being granted this status is further proof of our robust legal framework and LCH.Clearnet SA’s compliance to FSA requirements.”
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