LCH’s CDSClear launches CDX high-yield clearing
18 July 2017 New York
Image: Shutterstock
Global clearinghouse LCH has extended its CDSClear service to offer clearing for the CDX North American high yield index.
The new index extends the opportunities for participants to realise cross-margining efficiencies by offsetting their European and US products through CDSClear.
This latest addition to LCH’s credit derivatives clearing service follows the launch of clearing for the CDX North American investment grade index at LCH in 2016.
CDSClear now clears close to 500 single-name credit default swaps (CDS) and 93 index series, according to LCH.
LCH claims to be the first European central counterparty (CCP) to offer the clearing of both US and European credit derivatives to its members and their clients, as well as offering the broadest scope of products through its CCP.
Frank Soussan, global head of CDSClear for LCH, said: “We’re delighted to be the first CCP in Europe to make this North America-focused index available for clearing.”
“The extension enables us to offer a single solution and greater efficiencies to our customers who are increasingly clearing more of their eligible credit products.”
“Our continued expansion and focus on providing choice to our customers is reflected in the strong growth in customer activity we continue to see at CDSClear.”
The new index extends the opportunities for participants to realise cross-margining efficiencies by offsetting their European and US products through CDSClear.
This latest addition to LCH’s credit derivatives clearing service follows the launch of clearing for the CDX North American investment grade index at LCH in 2016.
CDSClear now clears close to 500 single-name credit default swaps (CDS) and 93 index series, according to LCH.
LCH claims to be the first European central counterparty (CCP) to offer the clearing of both US and European credit derivatives to its members and their clients, as well as offering the broadest scope of products through its CCP.
Frank Soussan, global head of CDSClear for LCH, said: “We’re delighted to be the first CCP in Europe to make this North America-focused index available for clearing.”
“The extension enables us to offer a single solution and greater efficiencies to our customers who are increasingly clearing more of their eligible credit products.”
“Our continued expansion and focus on providing choice to our customers is reflected in the strong growth in customer activity we continue to see at CDSClear.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
