LCH.Clearnet and the European Multilateral Clearing Facility (EMCF) have signed a master link agreement to achieve interoperability by November 2009.

In November trading participants on Chi-X and BATS Europe will be able to choose where their UK and Swiss equity trades are cleared. This will maximise value to users and ensure high standards of risk management.

Interoperability will bring advantages to the European equities environment, delivering greater efficiency, reduced costs and a wider choice of clearer for the trading community.

The arrangement between LCH.Clearnet and EMCF is in line with the access and interoperability guidelines within the European code of conduct and is subject to regulatory approval.

LCH.Clearnet is an independent clearing house group, serving major international exchanges and platforms, as well as a range of over the counter markets.

EMCF provides central counterparty clearing services for the growing multilateral trading facility market. EMCF's main shareholders are Fortis Bank Nederland and Nasdaq OMX Nordic Group.