LCH.Clearnet beats CME in FX clearing race
It marks the first foray into forex options by a central counterparty (CCP) and comes ahead of a likely clearing exemption for foreign exchange swaps and forwards by the US Treasury.
The statement from LCH does not list the banks involved, but those thought to be on board include BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JP Morgan and Royal Bank of Scotland. The move signals a coup for the Anglo-French clearing house against long-term US rival CME Group, which announced intentions to
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