Global clearing house LCH has announced that it has obtained recognition as a central counterparty from the Banco de México. The recognition for LCH’s SwapClear Service is effective from June 22, 2018 and provides a greater choice of CCPs to those participants affected by the Mexican clearing mandate. With this recognition, LCH can expand clearing…
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Multi asset global clearing house LCH has announced that Daniel Maguire (pictured above) has been appointed as Chief Executive Officer of LCH Group, with immediate effect. The appointment follows Suneel Bakhshi’s decision, earlier this summer, to step down from his role as Chief Executive Officer of LCH Group after four years in the role. The…
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LeapRate Exclusive… LeapRate has learned that Ireland-based FX central clearing provider FXCH, which uses Blockchain to settle FX trades, is trying to raise €8.5 million (USD $9.1 million), at a pre-money valuation of €20 million. FXCH is planning to raise the first €1 million via an Equity Crowdfunding campaign on Seedrs.com. The €8.5 million is…
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LeapRate Exclusive Interview... Retail Forex brokers are typically the ones running contests for their clients (and to attract new clients). However it came to our attention that someone is running a contest for the Retail Forex brokers: new Ireland-based FX central clearing provider FXCH. FXCH is a new approach to Spot FX clearing, settling trades utilizing…
Read moreFX clearing and settlement giant CLS Group today announced the appointment of Alan Marquard to lead CLS’s new Corporate Strategy and Development division. Alan is based in London and reports to David Puth, Chief Executive Officer of CLS. This division was created to align CLS’s Product and Relationship Management teams more closely with CLS’s strategy…
Read moreBank of America, National Association (BANA), a unit of Bank of America Corp (NYSE:BAC) is set to join Moscow Exchange’s FX Market as a clearing firm. BANA is in the process of finalizing necessary documentation and will begin active trading in January 2016. It will trade via Merrill Lynch Securities, which is a current trading…
Read moreA very important panel sponsored by the CFTC will discuss the future regulation of NDFs in FX and also how bitcoin and digital currency trading fits into the overall regulatory landscape in America, bitcoin community will be paying close attention...
Read moreBoE and PBOC agree on renminbi clearing and settlement in the UK The bank to be named for clearing and settlement has yet to be determined according to Reuters. A clearing bank is considered a politically sensitive subject in China, and is usually a domestic entity, with Bank of China and ICBC seen as the…
Read moreThe new service will initially offer FX NDFs out to two years for buy-side clients, via three FCMs. Clearing specialist LCH.Clearnet announced today that it is expanding its ForexClear FX derivatives clearing service with the launch of a new offering for buy-side clients. ForexClear is now available to buy-side clients through one of three Futures Commission…
Read moreClearVision tools allow brokers to deal with multiple trading platforms, liquidity providers, back office systems and risk books. Institutional FX broker CFH Clearing has announced the launch of a new suite of products called ClearVision, aimed at providing brokers with a combination of Prime of Prime interbank liquidity and state of the art, sophisticated trading technology.…
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