LCH Ltd (LCH), a global clearing house, has today confirmed its commitment to the FX Global Code and the UK Money Markets Code.
The FX Global Code is a set of global principles of good practice in the foreign exchange market, and the UK Money Markets Code sets out the standards and best practice expected from participants in the deposit, repo and securities lending markets in the United Kingdom.
Martin Pluves, LCH
Martin Pluves, CEO, LCH Ltd, said:
As a global clearing house, trust and efficiency has always been a core part of our values. We’re pleased to set out our commitment to both the FX Global Code and the UK Money Markets Code and we are supportive of their objectives to improve transparency and standardisation across the industry.
LCH Ltd is an active participant in the money markets through its Collateral and Liquidity Management function. The clearing house held average daily investments of €66.5 billion of cash collateral 2017.
LCH’s RepoClear service offers clearing services for cash bond and repo trading. LCH’s ForexClear service offers market participants clearing of FX NDFs, and physically delivered FX Options and their hedges.