European central counterparty LCH.Clearnet has launched a new technical initiative, called eCCW, which the firm says will provide clearing members with simpler and cheaper access to Clearing 21, its clearing system. The new solution replaces the Clearnet Clearing Workstation (CCW), which was closed down on January 7 following a one-month conversion period.
LCH.Clearnet says eCCW uses new communication and security technologies. It is web based, meaning clients no longer require a dedicated workstation, and security is delivered by RSA SecurID coded access. LCH.Clearnet claims the new technology will improve the quality of service and reduce costs.
“By implementing eCCW, LCH.Clearnet is responding to its commitment to optimise and rationalise its processes and is demonstrating, in line with market demand, its determination to deliver a high quality service whilst maintaining firm downward pressure on costs,” says Christophe Hémon, CEO of LCH.Clearnet.