04.11.2022

LCH SwapClear Clears Record Number of Trades

04.11.2022

LCH Ltd

Announcements from the EC and ESMA confirmed that there is no change to LCH Ltd’s ability to continue to provide clearing services to all EU members and clients.

SwapClear

  • Continued to deliver strong volumes
  • Cleared $323.9tn in notional from 2.05 million trades, increases of 19% and 7% respectively vs Q1 2021, a record number of trades cleared
  • Cleared $86.8tn in client notional, an increase of 50% vs Q1 2021
  • Compressed $226tn notional across 1.57 million trades, increases of 32% and 11% respectively vs Q1 2021, a record number of trades compressed

 ForexClear

  • Strong growth and a record for client clearing
  • Record $6.5tn of notional cleared across the service, an increase of 19% vs Q1 2021
  • Cleared non-deliverable notional up 20% vs Q1 2021, to a record $6.3tn
  • Clients cleared $90bn of notional, an increase of 42% vs Q1 2021 and a quarterly record

SwapAgent

  • Strong growth and record quarter for the service
  • Record $665bn registered, an increase of 393% vs Q1 2021, a record quarter
  • Processed first EUR swaption under the French law FBF/AFB master agreement, with Natixis CIB and Crédit Agricole CIB as counterparties

RepoClear

Record quarters across RepoClear

  • A combined €67.47tn of nominal cleared across 2.9m trade sides cleared, across RepoClear Ltd and SA, increases of 21% and 27% respectively vs Q1 2021, both records for the service
  • RepoClear SA cleared €53.77tn of nominal across 2.6m trade sides, increases of 16% and 25% respectively vs Q1 2021, both records for the service
  • RepoClear Ltd cleared €13.70tn of nominal across 346,600 trade sides, increases of 49% and 41% respectively vs Q1 2021, both records for the service
  • In April, Commonwealth Bank of Australia joined RepoClear SA, becoming LCH SA’s first Australian member

EquityClear & CommodityClear

  • Record quarter for EquityClear Ltd and new connections for SA service
  • Record 625.76 million trade sides cleared in EquityClear Ltd, an increase of 32% vs Q1 2021, a quarterly record for the service
  • EquityClear SA connected to Cboe Europe BV (including off-book trade reporting service BXTR) and Aquis Exchange Europe

CDSClear

  • Continued to see growth across a number of metrics
  • Record €927bn on Index, Single Names and Options notional cleared, an increase of 48% vs Q1 2021
  • Record $36bn US Index and Single Names notional cleared, a 224% increase vs Q1 2021
  • Record €87bn Client notional cleared in Q1 2022, an increase of 73% vs Q1 2021
  • Record €62bn Options notional cleared in Q1 2022, an increase of 71% versus Q1 2021
  • Record 54% market share in Europe for European Single Names, an increase of 8 pts vs Q1 2021
  • Launched client clearing of Credit Index Options with BNP Paribas and J.P. Morgan as the first clearing brokers

Source: LCH

Related articles

  1. New Collateral Transformers To Emerge

    Clearing members can now automate and optimise a substantial proportion of collateral movements.

  2. FTX’s proposal would replace futures commission merchants with an automated and centralized process.

  3. The regulator voted to approve a proposed rulemaking to modify the interest rate swap clearing requirement.

  4. Ownership gives Cboe entry to digital asset spot and derivatives, clearing and settlement.

  5. Cboe reported record quarterly results following a record year in 2021.