LCH adds subordinated financials to credit suite

By Ross Lancaster
20 Feb 2020

LCH’s credit derivatives arm, CDS Clear, has become the first central counterparty (CCP) clearing house to offer clearing of single-name subordinated financials credit default swaps (CDSs).

On Thursday, CDS Clear announced it will clear CDS on the European subordinated financials index and 30 single name contracts.

As uncleared margin rules (UMR) affect an ever-greater number of bilateral derivatives trades, clearing houses are hoping to benefit by offering cost advantages over bilateral execution, as traders ...

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