DTCC and LCH.Clearnet Announce Plans to Merge and Create World’s Leading Clearing House

DTCC and LCH.Clearnet Group (LCH.Clearnet) jointly announced on October 22 that they have signed non-binding heads of terms regarding the proposed merger of the two companies. The merger proposal aims to create the world’s leading clearing house, which would operate a user-owned, user-governed model, with LCH.Clearnet moving to an at-cost-based structure comparable to DTCC’s within three years.