New Change FX to supply mid-rates to LCH’s ForexClear

The mid-rate will be used for determining underlying spot rates at the point of expiry for FX options

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Andrew Woolmer: “NCFX offers a highly accurate reference rate that is not available for trading, which makes it uniquely independent"

Clearing house LCH has chosen New Change FX (NCFX) as a supplier of independent foreign exchange mid-rates to provide an accurate, impartial measurement of underlying spot prices at the point of expiry for FX options.

NCFX will supply LCH’s ForexClear service, which plans to add FX options this year to its existing non-deliverable forwards (NDF) clearing service, pending regulatory approval.

The NCFX mid-rate is an independent, highly aggregated reference price, which is published every 50

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