ForexClear volumes to hit $300 billion in September
The 100% growth compared with August comes as dealers in both the US and Europe expect costs to rise
Volumes on LCH-owned ForexClear have increased 100% from August to hit $300 billion in September, as both US and European dealers turn to central clearing in response to uncleared margin rules pushing up costs in over-the-counter derivatives trading.
The 41% year-on-year growth for August, when turnover hit $157 billion, represents a sharp turnaround for the non-deliverable forwards (NDF) clearing service that launched in March 2012 in anticipation of regulatory initiatives targeting the OTC
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