Growth in all LCH business lines and record results from the UK clearing business.<\/p>\n
<\/p>\n
A big year for LCH in many areas:<\/p>\n
LCH, a leading global clearing house, today announced that 2019 was another record year for volumes across multiple asset classes. Activity in its OTC derivatives and fixed income clearing services as well as its SwapAgent franchise exceeded 2018’s volumes. Growth has been driven by increased flow from new and existing customers looking to access the efficiencies of clearing.<\/p>\n
Daniel Maguire, CEO, LCH, and Group Director, Post Trade, London Stock Exchange Group<\/strong>, said: “2019 has been another successful year for LCH with record levels of activity across many of our services. We’ve continued to collaborate with the market to launch efficient and resilient solutions to support our customers’ risk management and capital efficiency. As we move into 2020, LCH, and the LSEG Post Trade division as a whole, is looking forward to continuing to partner with the market to foster further innovation and enable compliance with regulatory reforms, including the migration to alternative reference rates.<\/em>”<\/p>\n In 2019, SwapClear<\/strong>, LCH’s interest rate derivatives clearing service, registered over $1,229 trillion in notional, an increase of 14% from 2018’s volumes<\/strong>. Compression volumes also continued to grow, with more than $920 trillion compressed over the course of the year, up 19% from 2018. During the year, LCH was the first CCP to launch clearing for €STR swaps<\/a> and expanded its non-deliverable swaps<\/a> offering to cover five additional currencies.<\/p>\n LCH SwapAgent’s<\/strong> non-cleared derivatives service saw growth in cross-currency swaps offering, with $726 billion processed during 2019. SwapAgent now has 16 members live and actively using the service. <\/p>\n