Paris
10 June 2015
Reporter: Stephen Durham

LCH.Clearnet mandate SGSS


Societe Generale Securities Services (SGSS) has been selected by LCH.Clearnet to provide settlement services for domestic equity securities within the Euroclear Settlement of Euronext-zone Securities (ESES).

SGSS will provide settlement services on behalf of LCH.Clearnet in the Belgian, French and Dutch markets through its direct membership with Euroclear.

The clearing house thus benefits from SGSS’s continuous processing through one single entry point with straight-through delivery versus payment (DVP) for efficient, cost-effective settlement and direct access to the highly efficient and secure ESES settlement platform.

SGSS has stated that LCH.Clearnet made the decision based on SGSS’s local presence and settlement expertise, notably in European markets, as well as for its ability to provide “comprehensive and customised” settlement adapted to the central clearing party’s specific technical requirements

“We are pleased to be providing a single point of access to settlement services for the ESES market, demonstrating our ability to deliver indispensable local expertise alongside broad settlement coverage and efficient processing,” said Guillaume Heraud, global head of business development for financial institutions and brokers at SGSS.

“SGSS is strengthening its value proposition to ensure that clients benefit from tailored services which meet their specific requirements in an evolving environment in Europe.”

Cecile Nagel, global head of equities at LCH.Clearnet, added: “LCH.Clearnet is committed to driving efficiencies in the clearing of European equities and the agreement with SGSS is a further demonstration of this.”

“Through SGSS, we will be able to streamline our settlement processes in Belgium, France and the Netherlands, delivering benefits for our members and their customers.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Pension fund mandate for BNP Paribas
21 September 2017 | London | Reporter: Jenna Lomax
The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement
IHS Markit names new COO for thinkFolio
21 September 2017 | London | Reporter: Jenna Lomax
Cunningham will lead thinkFolio’s product management, services, support and managed service offering
AcadiaSoft expands user base for IM compliance
21 September 2017 | Massachusetts | Reporter: Drew Nicol
The second phase of the IM rules went live on 1 September under the regulatory framework of BCBS and IOSCO
SIX: Speedy settlement key in collateral management
21 September 2017 | London | Reporter: Stephanie Palmer
Real-time settlement is the most important consideration when choosing a new collateral management provider, according to research from SIX Securities Services
FCA takes pragmatic approach to MiFID II deadline
21 September 2017 | London | Reporter: Drew Nicol
The UK’s financial conduct authority has indicated it will accept a soft roll out of the second Markets in Financial Instruments Directive in January
Trade Informatics releases Peer Analysis tool
20 September 2017 | New York | Reporter: Jenna Lomax
The new addition will provide asset managers with tools to analyse how they compete with other money managers
BNP Paribas becomes first French OTC Clearing member
20 September 2017 | Hong Kong | Reporter: Barney Dixon
BNP Paribas has joined OTC Clearing Hong Kong, as the clearinghouse’s 17th member, and the first from France
More news