LCH ForexClear adds 24 Exchange as approved trade source
26 March 2025 UK
Image: Ahmed/stock.adobe.com
LCH ForexClear, a foreign exchange (FX) clearing solution of the London Stock Exchange Group (LSEG), has welcomed Bermuda-based 24 Exchange (24X) as an approved trade source.
This will enable 24X’s non-US users to trade and immediately novate trades to LCH, says the firm, with the potential to reduce counterparty risk and margin requirements under the Uncleared Margin Rules (UMR).
Andrew Batchelor, head of LCH ForexClear, comments: “This connection further expands access to margin, capital, and operational efficiencies for market participants worldwide, unlocking greater liquidity in the cleared FX market.”
By completing its first LCH-cleared production trade, involving the company's strategic partner Standard Chartered Bank, 24X has become the second electronic FX trading platform provider to offer its non-US users a direct workflow to LCH for non-deliverable forward (NDF) clearing.
Dmitri Galinov, CEO and founder of 24X, adds: “This new settlement path with LCH ForexClear is an exceptional new option for our non-US users, empowering them to simultaneously reduce their risks and costs while increasing their operational efficiency.”
This will enable 24X’s non-US users to trade and immediately novate trades to LCH, says the firm, with the potential to reduce counterparty risk and margin requirements under the Uncleared Margin Rules (UMR).
Andrew Batchelor, head of LCH ForexClear, comments: “This connection further expands access to margin, capital, and operational efficiencies for market participants worldwide, unlocking greater liquidity in the cleared FX market.”
By completing its first LCH-cleared production trade, involving the company's strategic partner Standard Chartered Bank, 24X has become the second electronic FX trading platform provider to offer its non-US users a direct workflow to LCH for non-deliverable forward (NDF) clearing.
Dmitri Galinov, CEO and founder of 24X, adds: “This new settlement path with LCH ForexClear is an exceptional new option for our non-US users, empowering them to simultaneously reduce their risks and costs while increasing their operational efficiency.”
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