LCH.Clearnet awarded FOW's 'Best Clearing House, EMEA'

7 December 2012

LCH.Clearnet Group (LCH.Clearnet), the international clearing house, today announced it has been awarded Futures and Options World's (FOW) award for Best Clearing House, EMEA.  The judging panel said the award acknowledged LCH.Clearnet’s world-class risk and collateral management expertise, and innovative multi-asset class clearing solutions.

Ian Axe, Group CEO, LCH.Clearnet, said: "We are delighted to have received this award, which is testament to our position as an industry leading risk manager.  We have ambitious plans for the year ahead as we continue to work with participants to help increase transparency and liquidity in new markets, and enhance our exchange-traded and OTC clearing capabilities."

Some of LCH.Clearnet’s milestones this year were:

• The acquisition of International Derivatives Clearing Group in August, which gave LCH.Clearnet a US-domiciled CCP, reinforcing the Group’s commitment to the world’s largest capital market.

• The updating of SwapClear’s membership criteria to encourage broader access and creation of a segregated default fund. SwapClear, LCH.Clearnet’s market-leading interest rate swap clearing service, broadened its range of products, launched a global certification programme, and agreed a cross margining initiative with NYSE, DTCC and NYPC for clearing and margining efficiencies.

• The launch of ForexClear, the first global FX clearing service which clears 11 major NDF currencies.

• CDSClear’s addition of international participants to its existing domestic French business, while also delivering an asset class-appropriate default management framework. CDSClear, LCH.Clearnet's credit default swap clearing service, also started accepting non-cash collateral via a pledge agreement.

• The enhancement of collateral and liquidity services by developing automated solutions with tri-party providers and expanding the range of eligible collateral. This reflected the increasing importance of collateral management to members and clients.

• The expansion of its exchange-traded business with an agreement to clear for NLX, a London-based trading venue from NASDAQ due to launch in 2013.

To view the press release as a pdf click here  

About LCH.Clearnet

The LCH.Clearnet Group is a leading international clearing house, serving major exchanges and platforms as well as a range of OTC markets.

LCH.Clearnet’s world-class risk management framework provides the markets with exceptional levels of protection.  Both the soundness of its risk management approach and the resilience of its systems have been proven in recent times. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to setting and maintaining the highest standards across all asset classes cleared.