LCH Ltd commits to FX Global Code and UK Money Markets Code
- Underlines LCH’s support for good practice and conduct in the FX and money markets
LCH Ltd (LCH), a leading global clearing house, today confirmed its commitment to the FX Global Code and the UK Money Markets Code.
The FX Global Code is a set of global principles of good practice in the foreign exchange market, and the UK Money Markets Code sets out the standards and best practice expected from participants in the deposit, repo and securities lending markets in the United Kingdom.
Martin Pluves, CEO, LCH Ltd, said: “As a global clearing house, trust and efficiency has always been a core part of our values. We’re pleased to set out our commitment to both the FX Global Code and the UK Money Markets Code and we are supportive of their objectives to improve transparency and standardisation across the industry.”
LCH Ltd is an active participant in the money markets through its Collateral and Liquidity Management function. The clearing house held average daily investments of €66.5 billion of cash collateral 2017. In addition, LCH’s RepoClear service offers clearing services for cash bond and repo trading. LCH’s ForexClear service offers market participants clearing of FX NDFs, and physically delivered FX Options and their hedges.
For further information
Rhiannon Davies, Tel: +44 (0)20 7426 7523
Lucie Holloway, Tel: +44 (0)20 7797 1126
LCH is a group of leading multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes. As demand for robust clearing services continues to grow, LCH is committed to maintaining the highest standards of risk management across all our services.
As the markets’ partner, LCH operates an open access model, offering a choice of execution venues, delivering unprecedented choice and efficiencies to the marketplace.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK, France and the United States with additional offices in the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives. LCH also serves the non-cleared derivatives market through LCH SwapAgent, a new service which extends the efficiencies and infrastructure of clearing to the market, without acting as a central counterparty.
LCH is majority owned by London Stock Exchange Group (LSE.L), an international markets infrastructure business that sits at the heart of the world's financial community.
Further information on LCH can be found at www.lch.com