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LSE to Proceed With Link Plan Delayed by Swiss-Franc Shock

  • London Stock Exchange to link to a third clearinghouse
  • CEO Rolet has championed open access for exchange operators

London Stock Exchange Group Plc will take a major step forward in its policy of giving more choice to customers when it starts a link with European Central Counterparty NV later this month after overcoming regulatory scrutiny in the aftermath of the extraordinary volatility in the Swiss franc.

EuroCCP will begin clearing trades from LSE’s cash equity market on Oct. 26, according to a notice sent to customers on Friday. Trades can now go to EuroCCP as well as the exchange operator’s existing clearinghouses, LCH.Clearnet Ltd., which is majority owned by LSE, and SIX x-clear AG.