LCH.Clearnet to Start Clearing CDS for US Members
This will add a third over-the-counter (OTC) derivative asset class to LCH.Clearnet Group's OTC clearing service for US members, which includes interest-rate and foreign-exchange derivatives.
"This development provides more choice and flexibility to members in clearing CDS index trades," says Charlie Longden, CEO of LCH.Clearnet's CDSClear business. "We've built upon our extensive OTC expertise and adapted it to provide robust risk and default management for the credit markets."
LCH.Clearnet won the 2012 award for the best risk analytics initiative at Waters' annual American Financial Technology Awards.
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