LCH reports record clearing volumes in 2021

Global clearing house LCH, part of LSEG, has just announced that 2021 was another record year for volumes across multiple asset classes.

During the past year, LCH expanded its services and developed new connectivity. Following LSEG’s acquisition of Refinitiv, ForexClear teamed up with FXall, to streamline FX traders’ access to clearing for FX OTC trades. The clearing house also strengthened its position in Asia with the addition of Singapore dollar denominated cash and government securities as accepted collateral and extended SwapClear’s operating hours to better serve the region.

Daniel Maguire, Group Head, Post Trade, LSEG and CEO, LCH Group, said:

Daniel Maguire, LSEG

Daniel Maguire

Throughout 2021, LCH continued to provide the robust risk management, capital efficiencies and operational benefits that support our customers and help ensure financial stability. Our customer centric approach helped drive strong growth across our services.

I’m particularly pleased by the growth at SwapAgent as LCH expands its offering to support customers in the non-cleared space.  We also enabled a seamless transition to risk-free rates across five major currencies, effectively closing the door on non-USD LIBOR for cleared OTC swaps.

LCH services continued to support transitional to risk-free rates (RFRs) during the past year. SwapClear, LCH’s interest rates derivatives clearing service, converted more than $35 trillion of a notional in the fourth quarter of 2021.

SwapAgent saw 10,186 trades in 2021, which represents a 489% year-on-year increase.

RepoClear processed €195 trillion of nominal across 9.4 million trades in 2021 in LCH SA, which represents rises of 15% and 29% respectively, compared to 2020.

ForexClear partnered with FXall, following LSEG’s acquisition of Refinitiv, allowing FXall users to streamline and accelerate their access to clearing of FX OTC trades.

EquityClear in LCH Ltd set a new annual record with 1.9 billion trades, a 5% increase from 2020.


Read Also: