LSEG Reports Yearly Growth With Post-Trade Units

The London Stock Exchange Group (LSEG) has reported widespread growth across its London and European clearing and settlement business.

According to a pre-close trading statement issued by the group on Thursday, volumes of cleared contracts processed by its London-and Italian-based clearing houses, LCH Clearnet and CC&G Clearing, both grew throughout the year.

At CC&G total trades cleared increased 14% to 110.3 million, of which equity clearing increased 15% to 64.5 million transactions and derivatives clearing grew 13% to 35.8 million contracts.

Through LCH Clearnet’s interest rate swaps clearing unit, SwapClear, it cleared a notional $606 trillion, up 29%, and the number of SwapClear clearing members increasing 10% to 113.

Cleared listed derivatives were also up 2% to 163 million, while average cash collateral increased 19% to $57.8 billion.

Monte Titoli, LSEG’s Italian central securities depository (CSD), settled 60.1 million trades, a growth of 22%, however assets under custody declined just 1% to $4.05 trillion.

The LSEG is hoping to achieve final regulatory approval for the launch of its new Luxembourg-based CSD, globeSettle. In September, it achieved approval to start operations as a ‘Professional of the Luxembourg Financial Sector’, and is currently awaiting designation as a ‘Securities Settlement System’.

Earlier this year, globeSettle was selected as the collateral location venue for LCH Clearnet and CC&G. It will also provide settlement, custody and asset servicing for J.P. Morgan’s international collateral management division.