SGSS to provide LCH.Clearnet with settlement services
LCH.Clearnet has chosen Societe Generale Securities Services (SGSS) to provide settlement services for domestic equity securities within the Euroclear Settlement of Euronext-zone Securities (ESES).
SGSS will provide settlement services on behalf of LCH.Clearnet in the Belgian, French and Dutch markets through its direct membership with Euroclear.
“We are pleased to be providing a single point of access to settlement services for the ESES market,” said Guillaume Heraud, global head of business development, financial institutions and brokers at SGSS.
“SGSS is strengthening its value proposition to ensure that clients benefit from tailored services which meet their specific requirements in an evolving environment in Europe.”
The clearing house will use SGSS' continuous processing through one single entry point with straight-through delivery versus payment (DVP) for settlement. This will give direct access to the ESES settlement platform.
SGSS was selected by LCH.Clearnet for its local presence and settlement expertise, notably in European markets, as well as for its ability to provide a comprehensive settlement offering adapted to the central clearing party’s specific technical requirements
“Through SGSS, we will be able to streamline our settlement processes in Belgium, France and the Netherlands, delivering benefits for our members and their customers,” said Cecile Nagel, global head of equities at LCH.Clearnet.
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