LCH achieves record year for volumes in 2018
07 January 2019 London
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LCH achieved a record year for volumes across its clearing services at LCH Ltd and LCH SA in 2018.
Equities, fixed income, and over the counter derivatives clearing services all surpassed 2017’s clearing activity.
According to LCH, increased volumes across both clearing houses has been driven by the roll-out of new products and growth of client clearing.
At RepoClear, the business reported the largest nominal amount cleared in the service's history, with €197 trillion cleared across LCH Ltd and LCH SA, up 13 percent from 2017.
LCH’s FX derivatives clearing service, ForexClear, recorded a record year in 2018 as it cleared over $17 trillion in notional, up 55 percent.
LCH also reported that EquityClear also had a good year, with 1.15 billion trades cleared at LCH Ltd, setting a new record.
CDSClear also significantly increased its market share, with a record of €1.2 trillion in notional processed across its CDS index and single names offering, an increase of 12 percent on 2017’s volumes, LCH revealed.
Meanwhile, in November 2018, LCH SwapAgent built out its non-cleared derivatives offering and processed its first swaptions trades, adding to its existing cross-currency swap offering.
Daniel Maguire, CEO, LCH Group, said: “2018 was a strong year of delivery and innovation at LCH, where we have continued to work in partnership with our customers on an open access basis to further expand our products and services.”
“We are extremely pleased with the traction and volume records we have seen across multiple services across both our central clearing counterparties (CCP), in Paris and London.”
He continued: “During 2018, LCH’s interest rate derivatives clearing service, SwapClear, processed over $1,077 trillion in notional, an increase of 23 percent and the first time over $1 quadrillion has been cleared in one year. Compression volumes also continued to rise, with over $773 trillion compressed over the year, up 27 percent on levels from 2017.”
Maguire added: “During 2018, SwapClear’s compression services are estimated to have saved its customers $39.5 billion in capital. SwapClear’s product offering, was expanded to include non-deliverable interest rate swaps in Chinese Yuan, Korean Won, and Indian Rupee, as well as LCH Ltd being the first CCP to introduce clearing of secured overnight finance rate swaps, in July 2018.”
Equities, fixed income, and over the counter derivatives clearing services all surpassed 2017’s clearing activity.
According to LCH, increased volumes across both clearing houses has been driven by the roll-out of new products and growth of client clearing.
At RepoClear, the business reported the largest nominal amount cleared in the service's history, with €197 trillion cleared across LCH Ltd and LCH SA, up 13 percent from 2017.
LCH’s FX derivatives clearing service, ForexClear, recorded a record year in 2018 as it cleared over $17 trillion in notional, up 55 percent.
LCH also reported that EquityClear also had a good year, with 1.15 billion trades cleared at LCH Ltd, setting a new record.
CDSClear also significantly increased its market share, with a record of €1.2 trillion in notional processed across its CDS index and single names offering, an increase of 12 percent on 2017’s volumes, LCH revealed.
Meanwhile, in November 2018, LCH SwapAgent built out its non-cleared derivatives offering and processed its first swaptions trades, adding to its existing cross-currency swap offering.
Daniel Maguire, CEO, LCH Group, said: “2018 was a strong year of delivery and innovation at LCH, where we have continued to work in partnership with our customers on an open access basis to further expand our products and services.”
“We are extremely pleased with the traction and volume records we have seen across multiple services across both our central clearing counterparties (CCP), in Paris and London.”
He continued: “During 2018, LCH’s interest rate derivatives clearing service, SwapClear, processed over $1,077 trillion in notional, an increase of 23 percent and the first time over $1 quadrillion has been cleared in one year. Compression volumes also continued to rise, with over $773 trillion compressed over the year, up 27 percent on levels from 2017.”
Maguire added: “During 2018, SwapClear’s compression services are estimated to have saved its customers $39.5 billion in capital. SwapClear’s product offering, was expanded to include non-deliverable interest rate swaps in Chinese Yuan, Korean Won, and Indian Rupee, as well as LCH Ltd being the first CCP to introduce clearing of secured overnight finance rate swaps, in July 2018.”
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