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The IRS market is global by nature and a foundation block for growth and prosperity. Its success lays on the fact that financial institutions can interact freely on a cross-border basis. However, the recent EMIR 3 proposals would restrict EU Firms’ access to this global market. Considering the impacts of EMIR 3 on EU Firms, we should explore alternatives. 

In August 2023, FX Options reached new highs with its 4th consecutive monthly record as market participants continued to see margin, capital and operational efficiency benefits from FX clearing. See our latest dashboard for highlights.

ForexClear delivers unmatched capital and operational efficiencies, including the flexibility and choice of both US and European clearing models. 

LCH ForexClear continues to deliver capital, margin and operational efficiencies to market participants. July 2023 ended with the seventh consecutive Average Daily Volume (ADV) monthly record, clearing $10.5bn in FX Options. See our latest dashboard for highlights.

LCH EquityClear’s strong performance continues, with the service in LCH Ltd clearing 914m trade sides and with LCH SA clearing 190m trade sides. Our network of members and their clients benefit from large-scale clearing of a broad range of equities and equivalent products, via connections to multiple exchanges, trading venues and CSDs, across diverse market segments and trade feeds. Learn more about our pan-European clearing service in our H1 factsheet here.

In Q2 2023, 28 major financial institution groups were live at LCH SwapAgent, up from 21 in Q2 2022, with 42 entities from 12 countries live, up from 35 in Q2 2022. This has driven a 91% increase in notional registered over the same period, which stood at $10.2 trillion at the end of the last quarter. See our latest dashboard for more Q2 highlights and new developments at SwapAgent.

LCH SwapClear met key benchmark reform milestones in Q2 2023, successfully completing both tranches of the USD LIBOR conversion, as well as the conversions of SGD SOR and THB THBFIX. This was achieved in close collaboration with our market partners, who continue to benefit from access to the market’s deepest IRS liquidity, including swaps referencing new RFRs such as SOFR. See our latest dashboard for highlights.

LCH CDSClear had a stellar H1 2023, with record highs in Index, Single Names notional cleared. Our service also saw live client entities almost double, and several tier-one banks go live as clearing brokers. This growth is delivering even more opportunities for our members and clients to generate unmatched capital and operational efficiencies. See our latest dashboard for highlights. 

LCH’s solution for non-deliverable and deliverable FX, delivering unmatched capital, margin and operational efficiencies.

LCH RepoClear saw growth across Euro debt and Gilts, with record Euro debt open interest in Q2 2023 up 5.7% vs previous record (Q1 2023). We continue to work in close partnership with the market to deliver innovative solutions that enable members and clients to gain netting, settlement and operational efficiencies, with access to deep repo liquidity and margin stability in all market conditions. See our latest dashboard for highlights and new developments at RepoClear.