LCH.Clearnet will unveil SwapClear’s Futures Commission Merchant (FCM) service for U.S. clients on March 8, 2011 after the completion of all regulatory requirements. U.S. customers will access LCH.Clearnet’s SwapClear service through a U.S.-based FCM of their choice.
The service’s product range will be expanded in 2011 to cover U.S. dollar denominated amortizing swaps. SwapClear currently has 37 clearing members and its portfolio contains 850,000 trades with a notional value in excess of $252 trillion.
Click here for the release from PR Newswire.