LCH.Clearnet Expands Presence in Australia

LCH.Clearnet, the global clearing house, has announced that Marcus Robinson has been appointed Head of SwapClear Australia, to support the growing demand for on-the-ground, robust interest rate derivative (IRD) clearing solutions. He has relocated to Sydney.

In this new role, Marcus will lead LCH.Clearnet's next phase of expansion in Australia, building on SwapClear's existing presence in the region. He will work with local market participants to further enhance SwapClear's offering in line with their needs, including extending operational service hours.  A member of SwapClear's Global Management Team, Marcus was previously based in LCH.Clearnet's London office as Director of SwapClear Business Change. He joined the company in 2009 as Senior Manager OTC Clearing, Risk and Operations. Prior to joining LCH.Clearnet, he worked for JP Morgan in its investment banking and asset management divisions and the Commonwealth Bank of Australia in Sydney in the Financial Markets division. Marcus holds Australian citizenship.

Daniel Maguire, Global Head of SwapClear said: "Australia is an important component of our geographic expansion strategy in the Asia Pacific region. The relocation of Marcus, one of our senior executives, reflects our absolute commitment to the region.  Marcus has been instrumental in our Australian business from the outset and his industry knowledge, experience and leadership skills will be essential to our continued growth.  This new phase strengthens our ambitions to deepen relationships long-term with local and international firms to ensure we deliver the best Australian and regional support."

SwapClear currently clears over 90% of all cleared Australian dollar IRDs and over 40% of the entire Australian dollar IRD market. The first  AUD compression run was completed in May 2014 with  24,616 trade sides compressed amounting to a AUD 1.07 trillion reduction in outstanding notional.  SwapClear's members and clients benefit from access to the broadest range of OTC derivatives products and services in the greatest number of currencies offered by any CCP, combined with proven risk management skills and standards.

For further information

Rachael Harper, LCH.Clearnet, Tel + 44 (0)20 7426 7175

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About LCH

The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and trading platforms as well as a range of OTC markets.

LCH.Clearnet's world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of past defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared.

LCH.Clearnet Group is majority owned by London Stock Exchange Group (LSE.L), a diversified international exchange group that sits at the heart of the world's financial community.