NYSE Euronext said that London-based clearing firm LCH.Clearnet has agreed to continue the clearing of trades for NYSE Euronext's European equities and derivatives markets until 2013.
These clearing arrangements were initially set to end in November 2012. The extension means that clearing for derivatives will continue until June 2013 and the clearing for cash equities will continue until December 2013. The move will give both parties the time needed for their own strategic plans "to crystallise, while providing operational stability and continued service to our customers in the meantime", NYSE Euronext chief executive Duncan Niederauer said.
LCH.Clearnet chief executive, Ian Axe, said: "We look forward to continuing to support NYSE Euronext, as we have for many years, and to providing them with our world class service. In parallel, we are working with them on a longer term plan regarding cash equities' clearing arrangements".
Recent media reports have speculated that NYSE Euronext, Nasdaq OMX and the London Stock Exchange have submitted bids, though the LSE denied it was in talks with LCH.Clearnet. Two weeks ago, Niederauer confirmed his company had joined with market data firm Markit in a proposal to buy LCH.Clearnet.
NYSE Euronext's progressing merger with Deutsche Börse is not seen as being affected by any deal for LCH.Clearnet, Niederauer told reporters last week at the Sandler O'Neill Global Exchange and Brokerage Conference in New York.
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