First on-Sef NDF cleared by ForexClear
LCH.Clearnet-owned platform leads the way
The first on-Sef (swap execution facility) non-deliverable forward (NDF) was cleared on August 14 by LCH.Clearnet-owned ForexClear. The USD/BRL trade between market-maker Virtu and Societe Generale was carried out on SwapEx's Sef, while the pre-credit check was performed by swaps market middleware provider Traiana.
"We're excited about breaking this new ground with our partners. NDFs on-Sef open another door to FX over-the-counter clearing for our customers – one that leads to valuation
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