Amundi Onboard with LCH’s CDSClear Service

Amundi becomes the first buy-side firm to use LCH’s clearing service for Credit Default Swaps (CDS) via its clearing broker, BNP Paribas.

clearing and settlement
Amundi joins LCH's service to enhance its counterparty risk management.

According to LCH, from the second quarter of 2017, end-users trading CDSs will be able to connect to the service via two additional (unnamed) clearing brokers, which will offer clearing through LCH

This will enable a larger number of firms to access the benefits of clearing, including enhanced counterparty risk management and improved capital and operational efficiencies.

Emmanuel Gaffet, head of dealing risk management at Amundi, said in a statement that the firm decided to join to service as risk management is one of its top priorities. 

“At the same time, CDSClear’s broad product offering and portfolio margining capabilities mean that we would be able to offset the risk of correlated CDS contracts and make margin savings as a result,” he added. 

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