Newedge UK and USA Divisions Join SwapClear

Newedge’s UK and USA divisions have joined LCH.Clearnet’s SwapClear, the global clearing service for interest rate swaps.
Nicolas Breteau, CEO of Newedge, said: “Joining SwapClear is an important step towards building our cross-border services and continuously expanding our clearing offering from listed to OTC.”
SwapClear has been clearing OTC interest rate swaps for 14 years. As of May 2013, the service has cleared more than 3.1 million contracts, with a global membership of 82.
John Wilson, global head of OTC Clearing, Newedge, added: “Joining SwapClear complements Newedge’s existing ability to clear listed derivatives and deliverable swap futures — we are now better able to give clients confidence that however the market evolves, they can clear their trades through Newedge.”