JP Morgan clears first client NDF trade on ForexClear

The trade comes ahead of this month's widened bilateral margin rules

Clearing the way: "We are delighted to welcome JP Morgan to ForexClear," says Paddy Boyle

Ahead of the second tranche of market participants being caught by variation margin rules this month, JP Morgan has cleared its first non-deliverable forward (NDF) contract on LCH’s ForexClear on behalf of a client.

“This launch is focused on automation of flow, which is key to our non-member client,” says Nick Rustad, head of global clearing at JP Morgan.

“It enables us to provide clients [with] greater transparency of the clearing status of their trades, from execution to settlement. This

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