LCH Reports Record 2018, ForexClear Volumes Jump by 55% YoY

LCH achieved record volumes across all of its clearing services at LCH Ltd and LCH SA.

LCH, a global clearinghouse, has published its volumes for 2018 this Monday, revealing that the firm achieved a record year. In addition, CDSClear, EquityClear, ForexClear and RepoClear all reported record volumes.

LCH is a multi-national clearing house controlled by the London Stock Exchange Group (LSEG). The clearinghouse provides risk management capabilities across a range of asset classes, including foreign exchange (forex), equities, commodities and more.

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According to the statement released today, the firm achieved record volumes across all of its clearing services at LCH Ltd and LCH SA. In addition, the clearing activity for equities, fixed income, and over-the-counter (OTC) derivatives clearing services all exceeded 2017 volumes.

The clearinghouse’s forex derivatives clearing service, ForexClear, also achieved a record 2018. During the year, the unit managed to clear more than $17 trillion in notional. This is an increase of 55 per cent year-on-year.

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The company also expanded its forex services after it received a licence from the Japanese Financial Services Agency to clear FX non-deliverable forwards (NDFs) on behalf of the company’s clients based in Japan, as Finance Magnates reported in November.

SwapClear process more than $1 quadrillion in notional

Through its interest rate derivatives clearing service, SwapClear, LCH processed more than $1,077 trillion in notional, representing a jump of 23 per cent when measured against the same prior year period. This was the first time over $1 quadrillion has been cleared in one year, the statement said.

Daniel Maguire the CEO of LCH
Daniel Maguire
Source: LCH

Commenting on the solid results, Daniel Maguire, the CEO of LCH Group, said: “2018 was a strong year of delivery and innovation at LCH, where we have continued to work in partnership with our customers on an open access basis to further expand our products and services.

“We are extremely pleased with the traction and volume records we have seen across multiple services across both our CCPs, in Paris and London. We continue to provide our global customers with certainty and risk management expertise, and we look forward to continuing to build services and products further, in collaboration with our members and clients, in 2019 and beyond.”

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