Wednesday May 27 2015
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: European Union
LCH.Clearnet Limited (LCH.Clearnet), has announced that ForexClear has extended its client clearing offering to include European model account structures. End-users trading Non Deliverable Forwards (NDFs) are now able to connect to four clearing brokers offering the service, including HSBC, Société Générale and Standard Chartered Bank. As a result, a greater number of firms in Europe will now be able to access the benefits of NDF clearing, including enhanced risk management and improved capital efficiencies.
Buy-side firms and banks wishing to clear NDF trades are able to choose a clearing broker and their preferred level of asset protection from a selection of account structures including Individually Segregated Accounts (ISAs) and Gross Omnibus Segregated Accounts (OSAs). This initiative enriches ForexClear’s existing US client clearing model with its Legally Separated Operationally Commingled (LSOC) account structure, which was launched in 2013.
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