LCH.Clearnet Group History
LCH.Clearnet has a long history of serving the financial markets. Originally established over 100 years ago, for the last 30 years we have been at the forefront of clearing in Europe.
2003 - LCH.Clearnet Group is formed following the merger of the London Clearing House and Clearnet SA
2004 - LCH.Clearnet begins to clear contracts for the EDX London market.
May 2004 - LCH.Clearnet begins to clear London Stock Exchange's Dutch Trading Service.
June 2004 - LCH.Clearnet acts as central counterparty and guarantor of full completion to the Powernext Futures market
2005 - Introduction of OTC Freight Clearing service
2006 - LCH.Clearnet offers its services as central counterparty to Alternext in Paris and Brussels, Broker Tec (Italian debt) and MTS Italy (French debt).
March 2007 - LCH.Clearnet and Euronext announce repurchase by LCH.Clearnet of shares held by Euronext to more closely align customer and shareholder interests
2008 - LCH.Clearnet begins OTC emissions clearing
2008 - LCH.Clearnet begins to clear contracts on the Luxembourg Stock Exchange
London Clearing House (LCH) History
1888 - LCH is established to clear commodities contracts in London.
1980 - Ownership of LCH passes to a consortium of six British Banks.
1981 - LCH begins to clear contracts for the International Petroleum Exchange (IPE)
1982 - LCH begins to clear contracts traded on LIFFE
1987 - LCH begins to clear contracts traded on the London Metal Exchange (LME)
1996 - Majority ownership of LCH transfers to the whole clearing membership, with the LME, IPE and LIFFE acquiring minority ownership
1996 - Introduction of clearing for cash equities
1997 - Introduction of clearing for Gas
1999 - Introduction of clearing for Swaps and Repos
1999 - Introduction of clearing for Power
2001 - LCH begins to clear the London Stock Exchange's automated order book trades
2002 - LCH begins to clear ICE energy contracts
2003 - LCH.Clearnet Group is formed following the merger of the London Clearing House and Clearnet SA
Clearnet History
1969 - Banque Centrale de Compensation SA is established to clear contracts traded in Paris commodity markets
1990 - Banque Centrale de Compensation SA becomes a subsidiary of Matif, and is the first organisation in Europe to clear both cash and derivatives
1998 - Bourse de Paris takes control of Matif. Clearnet launches a clearing service for French government securities and is the first organisation in Europe to permit remote clearing.
1999 - Restructuring of the French markets, all the regulated markets in Paris are run by a single body, the Société des Bourses Francaises, trading under the name of Euronext Paris. Clearnet is spun off as a subsidiary of Euronext and becomes the clearing house for all products traded in the Paris markets.
1999 - Introduction of clearing service for French government bonds
2000 - Euronext is established through the merger of Bourse de Paris, the Amsterdam Exchanges, and the Brussels Exchanges
2001 - Clearnet merges with Euronext Amsterdam's and Euronext Brussels' Clearing Houses.
2001 - Clearnet guarantees payment and financial security for Powernext, the French electricity market.
2002 - Clearnet launches clearing operations for transactions in Italian government bonds traded on the MTS Italy electronic platform.
2002 - Clearnet extends its guarantee to Same Day Repo active on French debt.
2003 - Euronext Lisbon contributes its derivative and OTC equity clearing businesses to Clearnet which thus acquires a branch in Portugal to establish a local presence with Portuguese clearing members.
2003 - LCH.Clearnet Group is formed following the merger of the London Clearing House and Clearnet SA