DC09-271 September 2, 2009
BT’S IP-based network supports European central counterparty clearing
Radianz Service Provides Secure Connectivity to LCH.Clearnet Group
BT has announced today that LCH.Clearnet Group (LCH.Clearnet), the global clearing house, has selected BT’s Radianz service to provide secure IP-based connectivity.
LCH.Clearnet Group uses BT’s Radianz shared market infrastructure to connect to its Group members around the world. Many of LCH.Clearnet’s members were already connected to the Radianz community, enabling BT to implement the extended solution quickly and to migrate those members to the use of BT’s Radianz services across nine countries (France, Germany, Belgium, Luxembourg, Netherlands, Portugal, Spain, Switzerland and the UK) before the end of 2009.
BT’s Radianz shared market infrastructure provides robust, secure and managed connectivity to LCH.Clearnet members. Encrypted connectivity services, such as end-to-end managed IP security between member sites and LCH.Clearnet data centres, are also available across this infrastructure.
In addition, BT’s Radianz services will reach geographically dispersed members and services and support the delivery of flexible connectivity solutions and scalability to facilitate future growth.
Christophe Hémon, CEO, LCH.Clearnet SA, said: “Many of the members of LCH.Clearnet Group already use BT’s Radianz shared market infrastructure. This makes it much more efficient, both in terms of cost and time, to use this existing service to reach our target members. Time-to-market is essential for us.”
Andy Nicholson, VP, Global Banking & Financial Markets, BT, said: “As a result of the economic crisis the importance of risk management and regulation has become totally evident to everyone in the financial services sector. Removing risk from the market is a fundamental requirement, and central counterparties are key to this. The importance of BT’s role in this process is indicated by LCH.Clearnet selecting BT as a connectivity partner that can take care of its members’ network requirements internationally, thereby allowing it to focus on its core business of providing counterparty and clearing services”.
