SwapClear

LCH SwapClear provides access to the deepest liquidity in the OTC interest rate swap market and access to 95 percent of the “vanilla” interest rate swaps (IRS) market. Our extensive product offering makes it simple to comply with regulations, while SwapClear’s additional products and services enable you to drive capital and operational efficiencies across your rates portfolios.

As the only truly global clearing house for OTC interest rate swap markets, we provide 24-hour cover through our London, New York and Sydney offices. Since 1999, we have cleared over 65 million OTC interest rate swaps, and compressed over $7,000 trillion in gross notional. That has meant fewer line items, simpler portfolio management, and reduced capital requirements for our members and their clients.

Our service offering is backed by SwapClear’s world-class risk management, built on the foundation of more than 100 years of hard-won clearing knowledge and experience at LCH.

We invite you to explore what clearing your OTC interest rate swap portfolio at SwapClear can do for your business.

SwapClear clears hundreds of interest rate products in 27 currencies, over tenors stretching from one month to 51 years, referencing dozens of different benchmark rates. Our services to the buy-side community range from trade compression to portfolio margining, while broadening the types of collateral they can post as margin. 

Today, SwapClear is the market’s longest-serving and only truly global interest rate swap clearing service. With unparalleled liquidity provided by over 100 members, unsurpassed risk management and unrivalled pricing, it’s no surprise that SwapClear truly is the markets’ partner.

SwapClear is the largest OTC interest rate swap clearing house in the world. Here are a few reasons why.

Unrivalled liquidity

SwapClear is by far the largest OTC interest rate swap clearing service by gross notional cleared. This liquidity results in more accurate risk assessment, better systems, deeper experience and superior pricing.

More products in more currencies

SwapClear clears 95 percent of all “vanilla” OTC interest rate swap products, offering 27 currencies and tenors as far out as 51 years in US dollars, Sterling and Euro.

A global presence

With locations on three continents, we provide clearing from the Asian open to the US close, remaining highly attuned to members' and clients' and regulatory needs, when and where they happen.

Real-world cost savings

Our members and clients have saved hundreds of millions of dollars, from sharper execution prices to better portfolio margining opportunities, enabling them to offset risk, reduce costs and lower collateral requirements.

Rigorous risk management

Our stringent membership criteria and rigorous backtesting, including worst-case losses based on historical scenarios, ensure SwapClear remains the unquestioned leader in CCP risk management. As a result, the derivatives community has adopted many of our risk management standards.