London (Reuters) - giant Exchange NYSE Euronext (NYX).(N) is to research to implement the services of two parallel compensation if it sealed its agreement proposed to buy the CHL Franco-British clearing house.Clearnet and merge with Deutsche Boerse (DB1Gn.DE).
NYSE Euronext, which accepted a combination of 10.2 billion with his German counterpart, February 9 has established a partnership with data provider Markit speaks at the beginning of a possible takeover joint of the CHL.Clearnet, a close source of talks, said Monday.
Deutsche Boerse already owns and operates the Eurex Clearing Company, which manages the trades on the Eurex futures market and market of the shares in the Xetra boerse.
"NYSE Euronext to keep expected his existing plans to listed derivatives Eurex Clearing," the source told Reuters Monday.
"If successful (this) would provide the group with an option to create synergies between the listed (OTC) markets and client over-the-counter more," said the source.
The plan is for Eurex Clearing as the clear choice for instruments traded on an Exchange, while of the CHL.Clearnet will become the location for the later on the broad exchange or market OTC, said the source.
Details of the NYSE Euronext plan has emerged after reports media Friday, declared that the transatlantic exchange operator, with its rival Nasdaq OMX (NDAQ.)(O) and the London Stock Exchange (LSE).(L) do all made offers of the CHL.Clearnet, which is based in London and Paris.
This led the CHL.Clearnet to confirm Saturday that he had received a number of operators exchange about a possible tie-up offers, refusing to comment further on.
However, the London Stock Exchange said Sunday, it is not currently in talks with the clearing house.
Compensation, which was thrust into the spotlight since the collapse of Lehman Brothers in late 2008, provides commercial counterparties with a guarantee against the other party by default on its obligations.
The sector was given to a huge coup de pouce by regulators in Europe and the United States, who intend to spend in the law of new rules to force large parts of the market OTC 600 billion in derivatives, such as rates of interest and swap default, use of credit clearing houses.
This resulted in many of the largest operators of exchange of the world, some of which own, it own suppliers of compensation while others use specialists of the third party as CHL.Clearnet, to review their compensation strategies.
NYSE Euronext, which, with the London Stock Exchange, uses the CHL.Clearnet, said last year, it will be in place by 2012 its own European clearing services and move business off the coast of the CHL - a model used by Deutsche Boerse.
"NYSE Euronext wants his compensation in Europe and the CHL in the source.""Clearnet would present a Ready made solution for compensation for them, as well as complementing the United States their presence of compensation," said Herbie Skeete, Director General of the Council in Mondo Visione Exchange.
NYSE Euronext has also launched in March of this year, New York portfolio Clearing, joint venture with giant exchange clearing U.S. deposit Trust & Clearing Corporation, to manage the United States commercial interest rate futures contracts.
NYSE Euronext is the largest shareholder of the CHL.Clearnet, with approximately 9% of the stock of the company, while the next largest owner is the London Metal Exchange with 8%.
The remaining 83 percent is held by the CHL.Clearnet more large banks and brokerage clients, which most will have to approve any recovery of the company.
(Edited by Douwe Miedema and Greg Mahlich)
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