Central counterparty clearing on the way

Rory Cunningham, director of strategy and development at LCH.Clearnet in London, said it would take about a year to develop the service, which it would begin as soon as it saw “demonstrable support” for the move.

The key advantage of central counterparty clearing is the management of “counterparty issues”, he said.

“A sell-side bank should not have to worry where the trade is on the other side. With a single counterparty to all sell-side deals, a massive simplification would be realised. We woul