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Big US and UK clearing houses agree to merge

Posted on 23 October 2008

From Independent : The American securities clearing house Depository Trust & Clearing Corporation (DTCC) and its European rival LCH.Clearnet have agreed to combine to create the world’s biggest clearing house in an effort to cut trading costs.

Under the terms of the deal, expected to close in the second quarter of next year, DTCC will buy LCH for as much as €739m (£583m), or €10 per share, giving LCH shareholders 34 per cent of the combined entity….. Full Article: Source


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