Highdeal has broken into the financial services market with LCH.Clearnet, Europe’s foremost clearing house. LCH.Clearnet 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.
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 are 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.
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.
Highdeal is the world’s leading provider of Pricing & Rating solutions. By delivering unconstrained pricing and packaging flexibility coupled with real-time transaction management, Highdeal solves the billing problem in the multiservice world. The Yankee Group has named Highdeal the fastest growing billing and rating vendor defined in terms of announced customers. With over 180 implementations in more than 50 countries, service providers around the world rely on Highdeal. For more information, visit www.highdeal.com.