European clearing house plans to extend compression to FX products next year
LCH.Clearnet has extended a specific
compression feature to include Forward Rate Agreements in the
latest roll-out of a service that has proved popular among
banks keen to shrink their balance sheets.
The Europe-based clearing house said on
Thursday it has extended the blended rate compression service
offered by its swap clearing platform SwapClear to cover
Forward Rate Agreements, and the first round of compression
wrote down some $1.9 trillion.
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