LCH.Clearnet’s SwapClear has fully opened its interest rate swap clearing service to investors.
Six clients of registered
futures commission merchants have already cleared
over-the-counter rate trades in a variety of maturities and
NYSE Liffe and CME Group are
both gearing up to offer investors IRS clearing through similar
models – with the potential advantage of
cross-margining for their existing futures clearing
Twelve FCMs are connected to
SwapClear : Bank of America Merrill Lynch, Barclays Capital,
BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman
Sachs, JP Morgan, Morgan Stanley, Nomura Securities, Royal Bank
of Scotland and UBS. HSBC’s US securities
subsidiary is due to join.
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