GLMX and LCH SA to provide access to sponsored clearing for European repo
01 November 2023 Europe
Image: Denys_Rudyi/stock.adobe.com
Global technology solution platform GLMX Technologies has completed an integration with LCH鈥檚 Paris-based subsidiary LCH SA to support classic and sponsored clearing.
Mutual clients of the two firms will benefit from the move, including GLMX鈥檚 client base of more than 115 global firms, and more than 20 third-party order management systems (OMS) and execution management systems (EMS).
Commenting on the milestone, GLMX CEO Glenn Havlicek says: 鈥淐entral clearing reduces
capital costs, mitigates credit risk and generates liquidity, which are essential characteristics for securities finance participants.
鈥淭he importance of central clearing will continue to grow in light of the current global regulatory landscape. Our connection to LCH SA鈥檚 powerful central clearing capability is an important step as GLMX establishes itself as the nexus of deep liquidity pools for our rapidly growing European buy- and sell-side network.鈥�
Olivier Nin, head of RepoClear and calm risk at LCH SA, adds: 鈥淲e are pleased to establish a partnership with GLMX Technologies as we look to support mutual members鈥� and clients鈥� access to both classic and sponsored clearing.
鈥淭hrough this integration, buy-side members can enjoy the benefits and gain greater access to the world鈥檚 largest Euro liquidity pool while banks can leverage enhanced netting opportunities, operational efficiencies and alleviate balance sheet pressures.鈥�
Mutual clients of the two firms will benefit from the move, including GLMX鈥檚 client base of more than 115 global firms, and more than 20 third-party order management systems (OMS) and execution management systems (EMS).
Commenting on the milestone, GLMX CEO Glenn Havlicek says: 鈥淐entral clearing reduces
capital costs, mitigates credit risk and generates liquidity, which are essential characteristics for securities finance participants.
鈥淭he importance of central clearing will continue to grow in light of the current global regulatory landscape. Our connection to LCH SA鈥檚 powerful central clearing capability is an important step as GLMX establishes itself as the nexus of deep liquidity pools for our rapidly growing European buy- and sell-side network.鈥�
Olivier Nin, head of RepoClear and calm risk at LCH SA, adds: 鈥淲e are pleased to establish a partnership with GLMX Technologies as we look to support mutual members鈥� and clients鈥� access to both classic and sponsored clearing.
鈥淭hrough this integration, buy-side members can enjoy the benefits and gain greater access to the world鈥檚 largest Euro liquidity pool while banks can leverage enhanced netting opportunities, operational efficiencies and alleviate balance sheet pressures.鈥�
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