Goldman Sachs joins LCH CDSClear as clearing broker
15 August 2023 UK
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LCH CDSClear has welcomed Goldman Sachs International and Goldman Sachs Bank Europe SE as new clearing brokers.
CDSClear, the international credit default swap (CDS) clearing house maintained by LCH, which is majority-owned by London Stock Exchange Group (LSEG), will expand Goldman Sachs’ derivatives clearing platform and in turn the credit clearing opportunities available to its clients.
The clearing house says it is the only Europe-based CDS clearing house that offers clearing for combined European and US indices and the constituent single names within.
As members, Goldman Sachs International and Goldman Sachs Bank Europe SE will have access to the partnership’s risk management, compression, backloading, margin rebalancing, default management and credit index options clearing services
Frank Soussan, global head of LCH CDSClear, says: “I’m delighted to welcome Goldman Sachs International and Goldman Sachs Bank Europe SE as new clearing brokers at LCH CDSClear. Our collaboration will equip Goldman Sachs’ clients with the tools they require to reduce their risk factors and gain capital potential through clearing.”
Richard Pape, managing director at Goldman Sachs International, adds: “As a clearing broker at LCH CDSClear, we can provide our clients with access to the broadest range of credit derivatives eligible for clearing, enabling them to reduce their credit portfolio risk and lower costs through capital reduction, margin offsets and greater operational efficiency.”
CDSClear, the international credit default swap (CDS) clearing house maintained by LCH, which is majority-owned by London Stock Exchange Group (LSEG), will expand Goldman Sachs’ derivatives clearing platform and in turn the credit clearing opportunities available to its clients.
The clearing house says it is the only Europe-based CDS clearing house that offers clearing for combined European and US indices and the constituent single names within.
As members, Goldman Sachs International and Goldman Sachs Bank Europe SE will have access to the partnership’s risk management, compression, backloading, margin rebalancing, default management and credit index options clearing services
Frank Soussan, global head of LCH CDSClear, says: “I’m delighted to welcome Goldman Sachs International and Goldman Sachs Bank Europe SE as new clearing brokers at LCH CDSClear. Our collaboration will equip Goldman Sachs’ clients with the tools they require to reduce their risk factors and gain capital potential through clearing.”
Richard Pape, managing director at Goldman Sachs International, adds: “As a clearing broker at LCH CDSClear, we can provide our clients with access to the broadest range of credit derivatives eligible for clearing, enabling them to reduce their credit portfolio risk and lower costs through capital reduction, margin offsets and greater operational efficiency.”
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