BBVA has started clearing its interbank interest rate swap (IRS) trades through LCH.Clearnet’s over-the-counter (OTC) IRS clearing service SwapClear. The total number of SwapClear clearing members has now reached 56. The Spanish bank will now be able to reduce counterparty risk and get access to the best prices to hedge and manage its large and complex IRS portfolio. BBVA employs 107,000 people in over 30 countries and has over 47 million customers and 900,000 shareholders.
Click here for the release from LCH.Clearnet.