The clearing house LCH has just announced that the investment bank of Intesa Sanpaolo Group, Banca IMI, has joined its CDSClear service. Banca IMI will now have access to clearing of credit derivatives referencing both Single Names and Indices, and is the first Italian member to join the clearing service. Banca IMI is already a…
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Global clearing house group LCH just announced that Deutsche Bank has gone live to offer client clearing via CDSClear. Deutsche Bank is the first German bank to offer this service. MEAG and Union Investment are the first clients to connect to CDSClear via Deutsche Bank. Frank Soussan, Global Head of CDSClear, said: We’re delighted that…
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LCH has expanded its non-deliverable interest rate swaps offering yesterday, adding five additional currencies - Brazilian Real, Chilean Peso, Colombian Peso, Taiwan Dollar and Thai Baht. The global clearing house began clearing of non-deliverable interest rate swaps last April. Since then, market participants have been able to clear this product denominated in Chinese Yuan, Korean…
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Global clearing house LCH has announced that Corentine Poilvet-Clediere has been named Head of RepoClear and Collateral Management, LCH SA, effective immediately. She will be responsible for LCH SA’s euro-denominated debt and repo clearing service, RepoClear, as well as the clearing house’s collateral management function. Corentine Poilvet-Clediere previous work places include London Stock Exchange Group, CDSClear…
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ForexClear members have announced that, through the use of the service’s compression solution, they have reduced their notional outstanding by $4.5 billion, global clearing house LCH informed earlier today. ForexClear has seen demand for its NDF clearing service significantly increase since the introduction of the uncleared margin rules in September 2016. LeapRate reminds, that ForexClear service processed over $1…
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LCH, a global clearing house, has announced that it has received approval for an extension to its clearing licence from the Japanese Financial Services Agency (FSA). The licence extension was granted on 31 October 2018 and enables LCH’s ForexClear service to clear FX non-deliverable forwards (NDFs) on behalf of banks and clients based in Japan.…
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LCH, a global clearing house, has announced that it has cleared the first U.S. Dollar interest rate swaps referencing the Secured Overnight Financing Rate (SOFR). Credit Suisse, Goldman Sachs and J.P. Morgan were among the first participants to clear swaps using the new rate. This follows the June 2017 announcement by the Alternative Reference Rates…
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The global clearing house LCH today announced that it has launched deliverable FX options clearing. Barclays, Citi and J.P. Morgan are among the first participants to use the service, with further banks expected to shortly start clearing the product. The move incorporates the first physical FX settlement service for cleared FX products, which LCH has…
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CLS, a market infrastructure group delivering settlement, processing and data solutions, has today announced the launch of CLSClearedFX ─ the first payment-versus-payment (PvP) settlement service specifically designed for over the counter (OTC) cleared FX derivatives. The service will enable central counterparties (CCPs) and their clearing members to safely and effectively mitigate settlement risk when settling…
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LCH, a global clearing house, has announced that J.P. Morgan has gone live as CDSClear’s first US bank to offer client clearing. As a result, Swedish pension fund AMF is now clearing European and US credit default swaps through CDSClear, using J.P. Morgan Securities Plc as its clearing broker. This development is the latest achievement…
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