SGSS strengthens its partnership with LCH Limited
SGSS, through its affiliate Parel, has agreed a two year extension for the provision of ESES settlement services for LCH Limited’s EquityClear service.
As a result of this renewal, LCH benefits from SGSS Parel’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 T2S settlement platform.
Parel is a leading provider of Clearing and Settlement services in ESES markets (Belgium, France and the Netherlands) and in the UK, with direct access to CREST. Through its network of agents, Parel has worldwide access to more than 30 countries. Parel services both domestic and international clients including investment banks, broker dealers, central clearing parties (“CCP”) and other institutional clients that are integral to the SGSS business. SGSS Parel is a General Clearing Member (GCM) on all major European CCPs for equities and fixed income instruments.
An SGSS Parel client since 2015, LCH is a leading global clearing house that provides proven risk management capabilities across a range of asset classes. Operating under an open access approach, LCH’s EquityClear service offers market participants access to clearing for equities traded across European exchanges and execution platforms.
SGSS Parel was selected by LCH for its local presence and settlement expertise, as well as for its ability to provide a comprehensive and tailored settlement offering adapted to the CCP’s specific technical requirements.