SLIB pilot for the new cash clearing platform of LCH.Clearnet SA

21 January 2011

Since LCH.Clearnet SA launched its new state-of-the-art cash clearing system in December, the various members of the clearing house have been able to benefit from the high performances of this new platform.

SLIB contributed to this successful migration as a pilot for the "UCS Programme- Stream 1 Cash” by being involved in the different tests since October, alongside certain clearing members selected by LCH.Clearnet SA.

During the testing period, SLIB used its software products in various configurations to replicate all various models and processes available to LCH.Clearnet SA’s members: interactivity with the SLIB CMS clearing station, clearing positions management with SLIB Position Management System, clearing risk management with SLIB CRMS. SLIB also simulated a complete trading cycle including settlement and corporate actions, using all its different concerned software products.

The main objective of the tests was to verify that the new clearing system did not present any functional regression with regard to the former. All available functions and messages being currently used by SLIB’s customers in real-time, the test was thus particularly meaningful.

The expertise of SLIB, its thorough knowledge of the data flows, deep understanding of the various clearing models, as well as the large volumes of clearing transactions streaming through its systems make of SLIB a natural pilot partner for this ambitious project.

Philippe Cognet, CEO of SLIB concludes "We are proud to have been chosen once again as pilot partner by LCH.Clearnet SA for a strategic project like UCS and we shall continue to involve ourselves in the forthcoming releases."

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