LCH launches SORA swaps clearing amid ongoing shift to alternative interest rate benchmarks.
Migration to LSEG’s clearing and risk technology platform Millennium will reduce end of processing time for market participants.
LCH has appointed former executive director for optimisation at CME Group in Japan to head up its business in the country.
Royal Bank of Canada and its Channel Islands subsidiary have joined LCH RepoClear as clearing members.
Representatives from LCH and EuroCCP highlight contradicting trends they are seeing in clearing activity throughout Europe following Brexit.
LCH says it is the first clearing house to offer clearing of subordinated financials single name credit default swaps through CDSClear.
LCH SwapClear saw notional volumes surge 14% in 2019 to $1,229 trillion as it looks to retain the derivatives clearing market amid Brexit.
LCH SwapClear said it is the first clearing house to offer swaps benchmarked to the secured overnight financing rate (SOFR).
Morgan Stanley and LBBW have cleared the first €STR derivatives referencing the new interest rate benchmark.
Following the launch of ForexClear’s deliverable FX options clearing service last year, LCH is now clearing FX forwards.