LCH Clearnet S.A. Amsterdam Branch products, services and reviews

About LCH Clearnet S.A. Amsterdam Branch

LCH Clearnet S.A. Amsterdam Branch is the Dutch branch of LCH SA, the Paris‑based central counterparty within LCH Group, majority‑owned by London Stock Exchange Group. It provides clearing services for trades executed on Euronext Amsterdam across cash equities and listed derivatives, and supports access to LCH SA’s broader services for euro‑denominated fixed income and repos as well as credit default swaps, subject to product eligibility. The branch operates under LCH SA’s EMIR authorization and risk framework, with supervision led by French authorities (AMF/ACPR) and a supervisory college that includes the Dutch AFM and DNB. Clearing is conducted in euros with daily variation margin and initial margin calibrated to market risk; participants also contribute to a default fund, with a loss waterfall that includes the defaulter’s resources and CCP capital before non‑defaulting members’ contributions. Eligible collateral is limited to cash and high‑quality securities subject to concentration limits, haircuts, and wrong‑way risk constraints, and client asset protection is available through omnibus and individual segregation in line with EMIR. Trades from Euronext platforms are novated to LCH SA and settle at relevant CSDs; for Dutch equities this typically involves Euroclear Nederland on T2S with DvP in central bank money, while cash flows for margin and default fund are processed via TARGET2. Membership is available to banks and investment firms that meet capital, operational, connectivity, and risk governance standards; firms may clear for proprietary activity and, where permitted, for clients. The branch offers local client service and regulatory liaison while using group systems for risk, reporting, and default management, including auction‑based liquidation and established recovery tools consistent with EU requirements. Fees are published by service and product and include registration, clearing, and delivery components; participants should review tariff schedules, margin methodology documents, rulebooks, and circulars for current terms and operational deadlines.