US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
An official representing the transatlantic consortium told Risk the group also includes BNP Paribas, Société Générale, UBS, JP Morgan, HSBC and Royal Bank of Scotland, along with interdealer broker Icap, which confirmed its involvement on February 2.
He added a small number of other major banks are also involved, with more firms interested in participating, but declined to give names.
Increased market turbulence and counterparty risk concerns have pushed clearing services into the spotlight since
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