LCH.CLEARNET TAPS CITI AS SETTLEMENT AGENT

Posted September 22, 2008

LONDON – Central counterparty LCH.Clearnet has appointed Citi’s Global Transaction Services unit as settlement agent in 15 markets, based on the strength of Citi’s pan-European securities network and links to European central securities depositories. LCH.Clearnet is serving as clearing agent for PLUS Markets Group, a new exchange in London specializing in small and mid-cap stocks.

“Citi is extremely pleased to be partnering with LCH.Clearnet as settlement agent for the Plus Markets exchange,” says Satvinder Singh, Managing Director and Head of Direct Custody and Clearing/Intermediaries for the EMEA regions at Citi. “Our settlement capabilities in over 53 countries and our established relationships with the European central securities depositories will ensure local settlement efficiently. We look forward to working with LCH.Clearnet in supporting this exciting new trading venue.”

LCH.Clearnet serves a range of major international exchanges and platforms for equities, exchange-trade derivatives, energy markets, interbank interest-rate swaps and bond and repo markets. Citi’s Global Transaction Services unit holds $12.8 trillion in assets under custody, serving more than 65,000 clients with a network covering more than 100 countries.