Commerzbank is the latest clearing member to join the London Stock Exchange Group’s LCH ForexClear as a clearing member.
Andrew Batchelor
Andrew Batchelor, head of ForexClear, LCH, said: “Over the past 18 months, financial institutions from Europe, Asia and the US have joined us and chosen to clear their FX trades with us, and we have seen record volumes across our products.
“We remain committed to extending our leading clearing services to the global FX market and offering further margin, capital and risk management optimisation opportunities as the service continues to grow.”
There are currently 22 member banks, 22 clearing brokers, and 88 clients active on LCH ForexClear.
Read more: Quantile and LCH ForexClear go live with FX Smart Clearing service
“Commerzbank is delighted to join LCH ForexClear, which enables us to further expand our global FX platform business through an optimised capital usage and allows us to benefit from operational efficiencies,” said Marius Jublin, global head of our FX forwards trading.
“In addition, ForexClear offers the opportunity to effectively manage bilateral credit exposures and participate in established risk-mitigating industry initiatives.”