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
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news