The world's leading independent clearing house
LCH.Clearnet is the leading independent clearing house group, serving major international exchanges and platforms, as well as a range of OTC markets. source worked with LCH to carry out an independent review and health check of the organisation's largest IT outsourcing agreements with the objective of developing a revised sourcing strategy.
What we did
LCH.Clearnet was created by a merger between The London Clearing House (“LCH”) and Clearnet in 2003. The merger of the two organisations resulted in two distinct sourcing models with different suppliers based on services delivered within the UK and France. source worked collaboratively with the suppliers in both locations and the offshore team, as well as the LCH.Clearnet IT and Sourcing teams to review the outsourcing deals, making an objective assessment and providing specific sourcing recommendations.
What was different
source worked very closely with the existing teams to understand historical sourcing strategy and decisions as part of a joined up and collaborative approach. Following a proven model they quickly gathered the necessary cost, contractual and performance data, compared their findings against their expectations of similar ITO deals and highlighted gaps and improvement areas with the LCH.Clearnet IT management team. Regular reviews helped refine and fine tune the team's analysis so that the final recommendations were practical and deliverable.
What they said
The source review provided our organisation with relevant and valuable recommendations to help us understand our sourcing options. The team worked very efficiently and effectively, providing honest feedback and pragmatic advice. It was refreshing to work with individual experts who know their subject matter and can apply their experience. We will continue to use their services in the future and would recommend Source for any outsourcing related consulting services"
- Ian Axe CEO - LCH.Clearnet
