ForexClear and CLS are working on a settlement service to launch next year
LCH.Clearnet’s ForexClear is working on plans to launch a
compression service later this year, as it ramps up preparations ahead of
launching FX options next year.
The compression service will initially be for cleared
non-deliverable-forwards (NDFs) and then for cleared foreign exchange options once the firm launches this service in 2016, subject to regulatory approval,
said Gavin Wells, global head of LCH’s ForexClear.
“We are also working on accepting ‘package trades’ such that
we can accept FX options and their hedges together, avoiding risk and margin
spikes that could lead to trade rejection,” said Wells.
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