LCH receives licence to clear FX NDFs in Japan


LCH, a global clearing house, has announced that it has received approval for an extension to its clearing licence from the Japanese Financial Services Agency (FSA).

The licence extension was granted on 31 October 2018 and enables LCH’s ForexClear service to clear FX non-deliverable forwards (NDFs) on behalf of banks and clients based in Japan.

  • Japanese Financial Services Agency approves LCH Ltd to clear FX Non-Deliverable Forwards for Japanese banks and clients
  • Builds on existing LCH licence to clear non-Yen OTC interest rate derivatives
  • Underlines LCH’s continued commitment to the Japanese market

This latest approval comes in addition to LCH’s existing licence to clear non-Yen OTC interest rate derivatives in Japan, which was granted by the FSA in 2016. Prior to LCH obtaining this latest licence, Japanese customers could only access ForexClear through international subsidiaries.


Kate Birchall

Kate Birchall, Head of Asia Pacific, LCH Ltd, said:

Tokyo is home to one of the world’s largest FX derivatives markets and we are honoured to have been awarded this licence to clear NDFs in Japan. This development is an important step for the market, providing Japanese firms access to LCH’s clearing services and global liquidity pool, reaffirming our long-term commitment to Japan.

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