Borsa Istanbul Acquires LME's Share of Clearing House LCH.Clearnet

The London Metal Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (LME) and Borsa İstanbul A.S. announced today the venues agreed upon that Borsa İstanbul will acquire the LME’s stake in Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term LCH.Clearnet.

Additionally, LME’s parent company, Hong Kong Exchanges and Clearing (HKEx), will partner with Borsa İstanbul on the dissemination of market data. Following this transaction, the LME has disposed of its entire remaining stake in its former clearing provider, LCH.Clearnet.

“As the world centre for industrial metals trading, the LME is committed to identifying new ways to expand internationally and to working with strategic partners to better serve our markets. We are delighted to announce this partnership with Borsa İstanbul, and the HKEx Group looks forward to working with them on future initiatives, not only in data and base metals, but also across other asset classes,” said Garry Jones, CEO of the LME and HKEx’s Co-head of Global Markets.

Under the terms of the agreements, the LME will license LME steel billet settlement data to Borsa İstanbul, and will work with the Turkish exchange to develop future products and services for the steel market. Borsa İstanbul will also have the right to disseminate real-time pricing data from the LME and HKEx.

Borsa İstanbul Acting Chief Executive Officer, Hüseyin Zafer, commented: “We are delighted to initiate the start of a very exciting partnership framework with HKEx Group and LME via the present accords. Over the last year, we have been working hard at both restructuring Borsa İstanbul’s operations, as well as constructing our global linkages, through agreements in America and Europe. We are now completing these linkages through the present agreement with the premier exchange of Asia, HKEx, and we aim to build a strong business together over the coming years to serve investors and issuers. Borsa İstanbul, already the financial hub in its region, is now also truly strongly connected to the major global financial centres.”