Options clearing on track, says LCH's new head of FX
While options clearing is still in the pipeline, cleared NDFs peak
Paddy Boyle, the new head of FX product at LCH's ForexClear, says the clearing of foreign exchange options remains a strategic priority for the company and he expects such a service to launch next year.
Market participants have been gearing up for the kick-in of initial margin rules for uncleared swaps, but despite an original launch date of 2011, the options-clearing service has suffered repeated delays due to technical issues related to same-day liquidity settlement and guaranteed delivery.
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