The London Stock Exchange has won a contract to provide the technology platform for a new cross-market central counterparty infrastructure in Central and Eastern Europe.
The deal - agreed with Austrian capital market infrastructure provider OeKB - sees the LSE underpin a new platform called CCP.CEE, that is designed to facilitate standardised cross-regional clearing in the region, initially in Vienna, Prague, Ljubljana and Budapest.
The software comes from the LSE's tech unit MillenniumIT and will be run from its IT facilities in London and Milan when the service begin its roll out in Vienna in mid-2012, with the Prague cash markets to follow soon after.
Kevin Milne, director, post trade services, LSE, says: "This will enable CEE markets to benefit from an advanced real-time clearing platform. We look forward to working in partnership with CCP.CEE to expand this initiative within the CEE region."
Georg Zinner, director, capital markets, OeKB, adds: "LSEG offers a fully hosted, near turnkey state-of-the-art solution. Choosing this solution will enable the CEE markets to achieve the benefits of scale which only shared infrastructure can offer."