Who regulates LCH?
- Regulated as a Compagnie financière by the Autorité de contrôle prudentiel et de résolution (ACPR), France.
- 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)*. This includes Norway, following amendment of the EEA Agreement to incorporate EMIR.
- Registered as a Derivatives Clearing Organization with the Commodity Futures Trading Commission (CFTC), USA.
- Recognised as a Foreign Central Counterparty by the Swiss Financial Market Supervisory Authority (FINMA).
- Recognised as a Foreign Central Counterparty by the Banco de México (BdM)
- Recognised as a Clearing Agency by the Ontario Securities Commission (OSC), Canada to offer SwapClear, ForexClear and RepoClear clearing services to Ontario-resident clearing members. The SwapClear service is designated as systemically important by the Bank of Canada.
- 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.
- Holds an Australian CS Facility Licence granted by the Minister under the Corporations Act 2001 to provide in Australia the SwapClear service.
- Recognised as a Recognised Clearing House by the Monetary Authority of Singapore to provide the SwapClear and ForexClear services in Singapore.
- Licensed by the Japanese Financial Services Agency to provide the SwapClear service (excluding Yen products) in Japan.
- Granted by the Hong Kong Securities and Futures Commission ATS-CCP authorizations 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.
* Following the UK’s withdrawal from the EU on 31 January 2020 the UK has entered into a transition period until 31 December 2020. During the transition period EU law continues to apply in both the UK and the EU as if the UK were a Member State
- Authorised as a central counterparty to offer services and activities in the European 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).
- Authorised to continue offering clearing services to its UK members by the AMF and Bank of England (BoE) – LCH SA to enter the Temporary Recognition Regime (TRR) for 3 years as of the effective Brexit date
- Authorised by the Japan Financial Services Agency (JFSA) as a foreign clearing organization operation in France to engage in the business equivalent to financial instruments obligation
- Exempted from the requirement to be recognized as a Clearing Agency/House by both Ontario Securities Commission (OSC) and Autorité des marchés financiers Québec (AMF Québec)
- Oversight by other regulators in jurisdictions in which business is carried out.
QCCP Status of LCH can be found here
LCH provides clearing services in six distinct asset classes: Commodities, Credit Default Swaps, Equities, Fixed Income, Foreign Exchange, Interest Rate Swaps and Listed Derivatives.
LCH is connected to dozens of execution venues, affirmation platforms and post-trade settlement providers, offering our Clearing Members and their clients the broadest range of trading locations and settlement options available in the market today.
Below you can find a comprehensive list of the trading venues and settlement providers which LCH partners with in each asset class.