Through the move, the broader Industrial and Commercial Bank of China (ICBC) Group will have full access to LCH SwapClear’s multi-currency clearing capabilities as it looks to bolster its presence in the international derivatives market.
Individual previously spent more than 11 years at BTIG, most recently as a vice president for outsourced trading.
The move is set to help the firm increase efficiency and navigate trading costs, and follows an uptick in non-traditional liquidity providers investing in automation across the fixed income market.
The swaps were cleared through HKEX’s OTC Clear service; the firm said the expansion bolsters its position in the post-trade optimisation sphere in Asia.
The move also makes the firm, which is the fifth largest bank in the US, the service’s seventy-sixth settlement member.
According to Acuiti and FIS’ recent study, the upcoming SEC’s US Treasury clearing mandate is a key driver behind a growing industry interest in self-clearing.
Strong data standards and automation are key to a smooth T+1 shift, but adoption and enforcement can pose challenges, agreed experts at Euroclear’s Modernising Securities Markets conference.
A market consultation is open until 10 October 2025, ahead of an industry event hosted by SIX on 23 September 2025 to present the roadmap.
Acquisition of a Tier 1 bank’s securities lending platform sees launch of front-to-back, multi-asset solution for stock loan, repo and collateral management for the buy- and sell-side.
Prime brokers streamline post-trade processes ahead of Europe’s T+1 settlement transition in 2027.