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LCH.Clearnet
selects Highdeal Transactive® for their Group Fee
System
Highdeal breaks into the financial
services market with LCH.Clearnet, Europe’s foremost
clearing house. The company has selected Highdeal to
provide their Group Fee System and will use Highdeal
Transactive® to process millions of transactions
per day, delivering LCH.Clearnet customers with monthly
bills while providing complete flexibility for managing
fee structures and reducing their Total Cost of Ownership
London, Paris, New York
- 24 January, 2008 – Highdeal, the world’s
leading provider of Pricing and Rating solutions, has
been selected by LCH.Clearnet to provide their Group
Fee System.
LCH.Clearnet, Europe’s premier central counterparty
for international regulated exchange and OTC transactions,
required a powerful and robust fee handling system which
offers complete flexibility in order to rapidly introduce
new products, add clearing members to their portfolio
and also provide monthly invoicing for their clearing
members and customers.
With a pivotal role in the wholesale financial markets,
LCH.Clearnet provides services for important European
exchanges and notable financial market participants.
As such, they have very stringent requirements for a
robust and reliable system where security, integrity
and efficiency is business critical.
Highdeal Transactive® is a perfectly adapted software
tool to deliver tariffing and billing software products
across the banking, insurance and financial services
industry. Highdeal’s easy to integrate and inherently
flexible software tool is providing LCH.Clearnet with:
- A single group-wide fee billing
system that is reliable, robust and effective and
able to manage millions of trades per day
- A system which accommodates
current fee structures, markets and trade sources
- A powerful invoicing tool
to deliver monthly bills to LCH.Clearnet’s clearing
members
- A system which reduces their
operating and development costs
- An entirely flexible system
to enable the speedy implementation of new customers,
fee structures, markets and trade sources.
“We
are delighted to be selected by LCH.Clearnet, Europe’s
premier Central Counter Party.. This contract signifies
Highdeal’s entry into the financial services industry
and further illustrates the relevance and efficacy of
Highdeal software solutions for managing fees and tariffs
and managing volumes of transactions,” said
Eric Lavenir, EVP Sales EMEA at Highdeal.
About LCH.Clearnet
LCH.Clearnet is currently owned 67.6% by users, 17.8%
by exchanges with the balance of 14.6% being held by
Euroclear. Upon completion of the Euronext share buy-back
programme by 2009, the Group will be owned 73.3% by
users, 10.9% by exchanges and 15.8% by Euroclear.
LCH.Clearnet is committed to operating under strict
principles of non-discrimination across its user base.
LCH.Clearnet serves major international exchanges and
platforms, equity, exchange-traded derivatives, energy,
interbank interest rate swaps markets and the majority
of the Euro-denominated and sterling bond and repo markets.
About Highdeal
Highdeal is the world's leading provider of Pricing
& Rating solutions. By delivering unconstrained usage-based business
models coupled with real-time, multi-party transaction management, Highdeal
solves the billing problem for service providers. Proven by 200 deployments
in more than 50 countries, the Highdeal
Transactive® software solution provides greater business agility and
lower TCO. From telecoms, Internet and media sectors, to transportation, logistics,
and financial markets, businesses across the service economy rely on Highdeal
to increase their competitiveness. For more information, visit www.highdeal.com.
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