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LCH SwapClear continues to provide the deepest pool of OTC interest rate swap liquidity, and it saw record growth in volume cleared and client clearing activity in 2023 – delivering significant capital and operational efficiencies for members and clients. See our dashboard for highlights.

LCH CDSClear delivered another record year in 2023 in partnership with our members and clients. Our growing customer base drove new highs in volume growth and client clearing activity, with notional cleared up 41% across all products and client notional up 93%. See our dashboard for highlights.

We look forward to our continued partnership and the scheduled 2024 launch. Through LCH clearing services and FMX Futures Exchange, members and clients will benefit from a complete offering across USD swaps, and US Treasury and SOFR futures. LCH SwapClear’s clearing capabilities will allow for portfolio margining across all these expressions of rates risk, as well as provide meaningful margin efficiencies and effective risk management.

Designed to improve standardisation, efficiency and simplicity in the bilateral derivatives market, LCH SwapAgent continues to see tremendous growth in participation and volumes, with new trade average daily value up by 77% and notional registered up 79% at end-Q4 2023 (vs Q4 2022). See our dashboard for highlights.

LCH RepoClear closed out 2023 strongly, with record trade sides cleared across euro debt and gilts and €62 trillion in nominal cleared in euro debt for Q4. As the market’s partner, we continued to introduce a number of innovative developments, as well as enhanced efficiencies, allowing members to further benefit from Europe’s largest cleared repo liquidity pool. See our dashboard for highlights and new developments at RepoClear.

In 2023, LCH ForexClear saw strong year-on-year growth of 160% in FX Options, along with record cleared NDF volume. This was driven by record clearing activity from our members and clients, who continue to benefit from the margin, capital and operational efficiencies of FX clearing. See our dashboard for highlights.

As more market participants benefit from the margin, capital and operational efficiencies of FX clearing, LCH ForexClear continues to see record growth, with new highs in total notional and client NDF volumes cleared in November. Last month also saw the launch of two new products: NDF Matching and FX Smart Clearing. See our latest dashboard for highlights.

LCH SwapClear continues to be the CCP of choice for delivering access to global cleared OTC Rates markets. Our services in Asia Pacific (APAC) continue to grow, now with 14 direct members and over 140 clients.

Our FX Smart Clearing solution can help members achieve 50%+ savings on regulatory capital requirements. FX Smart Clearing optimises capital usage, reduces counterparty risk, and improves operational efficiency whilst controlling margin costs, through intelligent and selective clearing of FX Forwards.

LCH ForexClear continues to see new highs in cleared FX Options volumes, with October 2023 being the sixth record month in a row, clearing US$311bn. Record FX Options average daily volume (ADV) was US$14bn in October 2023, as more market participants reap the capital and operational efficiencies of FX clearing. See our latest dashboard for highlights.