Speculation about a possible merger of LCH.Clearnet and the Depository Trust & Clearing Corp. (DTCC), creating a transatlantic clearinghouse, has stirred debate about whether consolidation or interoperability is the best means for improving operational efficiency and reducing processing costs for European securities transactions.
DTCC officials in New York declined to comment on an April 29 article in the Financial Times that cited unnamed sources in reporting that the market-owned utility has, over the last nine months, been in talks to take over LCH.Clearnet. Rumors about a possible tie-up first surfaced last fall when the bank-backed Turquoise trading platform selected DTCC's resurrected European clearinghouse, EuroCCP, for central counterparty services.
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