LCH.Clearnet, Europe’s biggest independent clearing house, plans to respond to a €830m (£748m) bid from a consortium of 11 banks and Icap, the inter-broker dealer, by proposing joint discussions aimed at combining elements of the bid with the clearer’s own proposal for a new structure. The clearer also plans to restructure part of its technology platform in an effort to save €28m and further reduce clearing fees – a key demand of market participants.

This entry was posted by Gwen Robinson on Thursday, May 14th, 2009 at 5:20 and is filed under Capital markets, M&A. Tagged with icap, LCHClearnet. Edit this entry.