SwapClear

LCH.Clearnet Limited’s (LCH.Clearnet) market leading over-the-counter (OTC) interest rate swap (IRS) clearing service, SwapClear, has extended the range of currencies available for clearing. Interest rate swap trades denominated in Hungarian Forint (HUF), Czech Koruna (CZK) and Singaporean Dollars (SGD) out to 10 years can now be cleared.

LCH.Clearnet signals further commitment to buy-side offering

In order to strengthen its global OTC derivative client clearing offering, LCH.Clearnet Ltd (LCH.Clearnet) has appointed Michael Davie CEO of SwapClear, its market leading interest rate swap (IRS) clearing service. In this new role, Michael will lead the next phase of the development of SwapClear which will focus on ensuring the best possible products and services are delivered to the buy-side. He will report to Roger Liddell, chief executive, LCH.Clearnet.

SwapClear Service Enhanced to Meet Growing Demand

For the first time 50 year interest swap trades (IRS) have been cleared, as LCH.Clearnet Ltd (LCH.Clearnet), the largest clearer of OTC products globally, extends its SwapClear offering. Market participants can now clear IRS trades denominated in USD, EUR and GBP with maturities of up to 50 years. The move brings greater efficiency and security to the OTC derivatives market, a key area of focus for regulators and legislators worldwide.

SwapClear, LCH.Clearnet Limited’s (LCH.Clearnet) market leading OTC interest rate swap clearing service, has cleared its millionth trade, taking the notional value of trades in SwapClear to US$206 trillion.

Launched in 1999, SwapClear currently clears 64% of the global interbank interest rate swap market and the range of products cleared has been extended to include overnight index swaps of up to two years in four currencies and interest rate swaps in tenors of up to 30 years in up to 14 currencies.