Christine Cumming Joins LCH.Clearnet’s Board as Non-Exective Director

Christine Cumming has been added to the Board of Directors of LCH.Clearnet LLC, the Group’s US arm, according to an LCH.Clearnet statement. Per the appointment, Ms. Cumming will serve as an independent non-executive director, as well as a member of the Risk Committee having garnered extensive experience in this realm. She joins the board with 35 years of experience at the Federal Reserve Bank of New York. This includes her most recent role as the Bank’s First Vice President, a position she held for over a decade, as well as a stint as its Chief Operating Officer (COO). Additional roles also include senior positions in the bank’s supervision and economic research divisions. According to Jill Considine, Chairman of LCH.Clearnet LLC, in a recent statement on the appointment, “Christine has had a distinguished career at the Federal Reserve Bank of New York, often leading and participating in the work of a number of international financial policy committees.” “Her experience will undoubtedly be an asset to LCH.Clearnet LLC and I am delighted to welcome Christine to the Board,” she added. Earlier today, Citadel Securities Limited became the first non-bank clearing member of LCH.Clearnet’s SwapClear. The induction of Citadel Securities as the inaugural non-bank Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term member SwapClear aimed to substantiate and complement the group’s recent launch of income market-making operations in Euro Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term.