Massive change at SwapClear – new Default Fund, Open Access

UPDATE (Friday 27th): I wrote a longer before/after comparison here. Segregated Default Fund of between £1bn and £5bn Requirement for an ‘A’ rating dropped Requirement for a minimum $1trn portfolio

April 26, 2012 - Editor

Category: Clearing

UPDATE (Friday 27th): I wrote a longer before/after comparison here.

Segregated Default Fund of between £1bn and £5bn
Requirement for an ‘A’ rating dropped
Requirement for a minimum $1trn portfolio size dropped
Minimum contribution to the Default Fund of £10m

Too much to read after a couple of glasses of wine – but big change in the competitive landscape for direct access to Central Clearing for OTC products.

Full details via LCH.Clearnet Group – Member Notices – Circulars – 2012-04-26 SwapClear Member Circular.