LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
The derivatives market’s biggest swaps clearer, LCH, has announced that SwapAgent, its service for the non-cleared market, has processed its first cross-currency basis swap.
Credit Suisse and Deutsche Bank were the two counterparties to the EUR/USD swap. The trade was processed through MarkitServ, the over-the-counter derivatives trade-processing service from Markit, and brokered by Icap.
LCH SwapAgent is available for market participants trading non-cleared OTC interest rate derivatives
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Clearing and settlement
Clearing to become cheaper alternative to PB for most clients
IDX panel says it’s doubtful FX will ever see a clearing mandate
LCH adds five currencies to non-deliverable swaps offering
Expansion in response to customer demand in Asia and Latin America
Nomura’s asset manager extends CLSSettlement to Japanese funds
First local asset manager to provide access in sign of success for buy-side adoption push
FX Link adds two more currency pairs
CME now offers spot FX basis spreads for eight pairs versus futures
CME clears FX cash-settled forwards for first time
Service debuts in January with two EUR/USD trades
Traiana offers USD/CNH and USD/HKD clearing via HKEX’s OTC Clear
Deliverable contracts are forwarded to Hong Kong Exchange via Traiana’s clearing hub CCP Connect
Two banks sign up for ForexClear compression
New service brings greater capital and operational efficiency to FX market participants
SGX is launching FX futures solution
New feature lets market participants trade customisable FX futures contracts in an OTC fashion
