London, 16 September 2008

LCH.Clearnet is set to develop the first multi asset derivatives clearing platform, Synpse Clearing Technology (Synpse).  Synpse will be the only derivatives clearing platform with the capability of supporting all exchange traded and most OTC contracts. Synpse is being designed to meet the demands of the world’s most advanced derivative exchanges and markets, benefits include:

• Scalability – Synpse will have the capacity to handle the world’s smallest and largest exchanges

• Speed to market – the adaptability of the platform will enable some new contracts to be launched within a week and entire new exchanges from circa three months

• Flexibility - capable of handling diverse asset classes and a range of risk algorithms, Synpse will be tailored to suit each market's needs

• Economies of scale – one platform, serving multiple markets, will enable exchanges to benefit from economies of scale

Synpse is being built with TCS Financial Solutions, part of Tata Consultancy Services (TCS).  Synpse’s underlying technology will be TCS’s market leading financial software, TCS BNCS Market Infrastructure.  LCH.Clearnet’s extensive derivatives expertise will be leveraged to develop this into the most advanced derivatives clearing platform.

Synpse will give members the benefits of:

• Simplified and replicated processes across markets reducing implementation and support costs.

• One consolidated platform with a single interface

• Enhanced reporting facilities, giving members greater control and flexibility to access and use the data they need

Roger Liddell, Group CEO, LCH.Clearnet said; “There is real market demand for a robust yet flexible clearing solution for derivatives.  Given TCS BNCS Market Infrastructure’s track record of resilience and our in-depth understanding of the derivative markets, Synpse is set to become the market leading platform for a comprehensive range of derivatives.”

N. Ganapathy Subramaniam, president, Tata Consultancy Services added; “TCS BNCS Market Infrastructure already underpins 7 clearing institutions and we are greatly looking forward to this exciting phase of its development.”