8/20/2020 David Horner, Head of Risk, Rates Derivatives, LCH Ltd said: “The SOFR discounting transition has been in the works at LCH since we first launched the cleared swap product 2 years ago. It is great to be able to complete such a fundamental change across SwapClear, ForexClear and SwapAgent and move those markets into the next paradigm. 3/4/2016 LCH ForexClear reported two initial margin breaches averaging $13.9 million in size in the last three months of 2018, ending a spotless record stretching back six quarters. The peak breach was $17.8 million in size, the largest since a $19.4 million breach first reported in the first quarter of 2016, and the third-largest since public 8/20/2020
8/20/2020 10/18/2017 LCH ForexClear, a leading provider of foreign exchange derivatives clearing, delivers unmatched capital and operational efficiencies. Built in partnership with the market, and with the benefit of LCH’s extensive experience in interest rate swaps clearing, ForexClear offers industry-leading risk management for non deliverable forwards in 12 emerging market and 5 G10 currencies and 8 currency
LCH, a leading global clearing house, today announced that it is the first clearing house to integrate with FX Connect TradeNeXus, State Street’s FX trading platform that provides exception based automated matching, trade and settlement confirmation enrichment and third party messaging.
ForexClear Clearing Members, amend the Settlement Rate Option of each Affected ForexClear NDF Contract to reference the Substitute Rate with effect on and from the Effective Date and specify such incidental amendments to the Affected ForexClear NDF Contract as may be required. Goldman Sachs has launched client clearing via LCH ForexClear under the central counterparty’s futures commission merchant (FCM) and international clearing broker model. The move will allow the US investment bank to offer its clients access to LCH’s FX derivatives clearing service for increased risk management and operational efficiencies ForexClear, which LCH launched in 2012 as the world’s first 24-hour over-the-counter foreign exchange clearing service, has continued to see strong growth as market participants adopt clearing for deliverable and non-deliverable FX products following the uncleared margin rules (UMR) phased implementation in September 2016. LCH ForexClear has become the first clearinghouse to integrate with State Street’s institutional FX trading platform to allow buy-side users direct access to LCH’s services. State Street’s FX Connect TradeNeXus platform allows for exception-based automated matching, trade and settlement confirmation, as well as third-party messaging. ForexClear already provides client and dealer-to-dealer clearing services for non-deliverable forwards as well as dealer-to-dealer clearing services for deliverable FX options, spot and forwards. Goldman Sachs. Last month Goldman Sachs began offering its clients access to LCH’s FX derivatives clearing service..
Head of Legal, Rates and ForexClear LCH.Clearnet. Feb 2016 – Present 4 years 1 month. Greater New York City Area. LCH. 4 years 2 months. Director, Legal LCH. May 2014 – Feb 2016 1 year 10 months. Developed in partnership with market participants, ForexClear empowers you to more effectively meet your daily clearing needs while at the same time benefiting from LCH’s proven risk and default management solutions. ForexClear Transaction for a particular Currency Pair that are set forth in the LCH G10 NDF Contract Terms or LCH G10 NDO Contract Terms. “ NPV Payment ” means, in respect of a business day and a ForexClear STM Contract LCH, a leading global clearing house, today announced that it is the first clearing house to integrate with FX Connect TradeNeXus, State Street’s FX trading platform that provides exception based automated matching, trade and settlement confirmation enrichment and third party messaging.