This paper presents a new modulation scheme for Very-High Speed Digital Subscriber Lines (VDSL) modem, featuring a Multi-Code Multi-Carrier Code Division Multiple Access (MC2-CDMA) modulation. The system takes advantage from both the CDMA modulation and the Multi-Carrier transmission, and furthermore the channel throughput is increased adopting a multi-code approach. Starting from an overview of this novel scheme, encompassing the transmitter, channel and receiver description, a brief review of the equalization techniques is also considered and a proper bit-loading algorithm is derived to find out the achievable overall channel rate. The aim of this paper, besides introducing this novel scheme, is to demonstrate its suitability for a VDSL environment, where the achievable channel rate represents a real challenge. By means of a further optimisation, a general improvement of the system performance with respect to the standardized Discrete Multi Tone (DMT) modulation is also demonstrated.