LSE to Offer Post-Trade Routing Technology

The London Stock Exchange will offer its new post-trade routing technology X-TRM as it launches a Central Counterparty (CCP) service for trading in 50 liquid Depositary Receipts on its International Order Book (IOB).

The X-TRM router will be used in the UK market to ensure that trades are routed from the IOB to the CCP service provider LCH.Clearnet automatically with no manual intervention.

In addition, LCH.Clearnet will offer firms the choice to net transactions in the same securities on the same day to reduce transaction management costs and financial exposure at the settlement level.

In a statement, Martin Graham, LSE director of equity markets, said the use of the X-TRM post trade router “is a first step in using the Group's post-trade assets to help shape the creation of a wider European trading network linked by shared technology platforms and processes.”