Company Structure

Who regulates LCH?

LCH Group Holdings Limited – the parent company

  • Regulated as a Compagnie financière by the Autorité de contrôle prudentiel et de résolution (ACPR), France.

LCH Limited – the UK entity

  • Recognised as a central counterparty and supervised by the Bank of England under the Financial Services and Markets Act 2000.
  • Authorised as a central counterparty to offer services and activities in the European Union in accordance with the European Markets Infrastructure Regulation (EMIR).
  • Registered as a Derivatives Clearing Organization with the Commodity Futures Trading Commission (CFTC), USA.
  • Licensed by the Swiss Financial Market Supervisory Authority (FINMA), to operate a securities settlement system in the role of central counterparty to SIX Swiss Exchange Switzerland.
  • Recognised as a Clearing Agency by the Ontario Securities Commission (OSC), Canada to offer SwapClear, ForexClear, RepoClear and CommodityClear clearing services to Ontario-resident clearing members.
  • Recognised as a Clearing House by Autorité des Marchés Financiers (AMF Québec) to offer SwapClear, RepoClear and ForexClear clearing services to Québec-resident clearing members.
  • The SwapClear service is designated as systemically important by the Bank of Canada.
  • Holds an Australian CS Facility Licence granted by the Minister under the Corporations Act 2001 to provide in Australia the SwapClear service. Granted an infrastructure license to conduct clearing operations in Norway by the Finanstilsynet (The Financial Supervisory Authority of Norway) and the Norwegian Ministry of Finance.
  • Recognised as a Recognised Clearing House by the Monetary Authority of Singapore to provide the SwapClear, ForexClear and CommodityClear (Freight Division) services in Singapore.
  • Licensed by the Japanese Financial Services Agency to provide the SwapClear service (excluding Yen products) in Japan.
  • Granted ATS-CCP authorizations by the Hong Kong Securities and Futures Commission  for SwapClear and ForexClear to provide clearing services in Hong Kong, and designated as a CCP in respect of SwapClear for the purposes of the Hong Kong mandatory clearing obligation for certain OTC derivative transactions.
  • Oversight by other market regulators and central banks in jurisdictions in which business is carried out.
     

LCH SA – the Continental European entity

  • Authorised as a central counterparty to offer services and activities in the Union in accordance with the European Markets Infrastructure Regulation (EMIR).
  • Regulated as a credit institution and central counterparty by its National Competent Authorities (NCAs) : l'Autorité des marchés financiers (AMF), l'Autorité de Contrôle Prudentiel et de Résolution (ACPR), and Banque de France (BDF).
  • Designated as a Securities and Settlement System by its National Competent Authorities (NCAs) to the European Commission.
  • Registered as a Derivatives Clearing Organization (DCO) with the US Commodity Futures Trading Commission (CFTC),  for its CDS business.
  • Registered as a clearing agency with the US Securities and Exchange Commission (SEC).
  • Recognised as a foreign central counterparty by the Swiss Financial Market Supervisory Authority (FINMA).
  • Oversight by other regulators in jurisdictions in which business is carried out.

 

LCH LLC – the US entity

  • Registered as a Derivatives Clearing Organization with the Commodity Futures Trading Commission (CFTC), USA.

QCCP Status

QCCP Status of LCH can be found here.