Standard Chartered has successfully cleared the first OTC trade using LCH.Clearnet’s Interest Rate Swap clearing service, SwapClear just two weeks after launching its Execution, Clearing, Liquidity and Portfolio Services (ECLiPSe).
Standard Chartered ECLiPSe was launched to help clients with the challenges brought about by global derivatives regulation and the increased costs of operating in the derivatives market. Luke Brereton, co-head of Standard Chartered ECLiPSe says OTC clearing is an important part of the offering.
Andrew Sterry, co-head of Standard Chartered ECLiPSe added, “We would like to thank LCH.Clearnet’s SwapClear service for its seamless support in the clearing of this trade. We look forward to a continued clearing relationship with LCH.Clearnet, leveraging its Rates and FX platforms to support our clients in meeting their regulatory obligations globally.”
“This transaction is an important step forward in the evolution of central clearing in the region. LCH.Clearnet is looking forward to providing clearing services to Standard Chartered as we expand our service in the Asia Pacific region,” said Daniel Maguire, Head of SwapClear US at LCH.Clearnet.
StanChart ECLiPSe Completes First OTC Trade
Standard Chartered has successfully cleared the first OTC trade using LCH.Clearnet’s Interest Rate Swap clearing service, SwapClear just two weeks after launching its Execution, Clearing, Liquidity and Portfolio Services (ECLiPSe).
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