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LCH CDSClear is committed to delivering a global solution that gives clients the choice of how they access clearing. Clearing at CDSClear enables market participants to reduce risk, increase operational efficiency and drive funding benefits, through access to the broadest range of credit derivatives eligible for clearing. This has driven record growth in the service in 2023, and we thank all our clients who have chosen to clear with us this year. See our Q3 dashboard for the latest highlights.

By creating new opportunities to increase efficiencies for non-cleared OTC derivatives markets, LCH SwapAgent has continued to see strong growth, with new trade average daily value up by 67% and an increase of 85% on notional registered at the end of Q3 2023 vs Q3 2022. See our latest dashboard for highlights.

LCH RepoClear ended Q3 with a new record of €78 trillion nominal cleared across Euro debt and Gilts, up 3% vs Q3 2022. We continue to partner with the market to innovate and unlock new opportunities for members to benefit from multilateral netting, capital and balance sheet efficiencies. See our Q3 highlights here.

LCH SwapClear provides access to deep liquidity in the OTC interest rate swap market, along with world-class risk management, delivering new opportunities for members and clients to achieve margin and operational efficiencies, and optimise capital. This drove increased activity in notional and trades cleared in Q3 2023. See our latest dashboard for highlights.

LCH ForexClear continues to see strong growth in FX Clearing, with members driving notable year-on-year increases in FX Options volume in September 2023, its fifth successive record month. See our latest dashboard for highlights.

The IRS market is global by nature and a foundation block for growth and prosperity. Its success lays on the fact that financial institutions can interact freely on a cross-border basis. However, the recent EMIR 3 proposals would restrict EU Firms’ access to this global market. Considering the impacts of EMIR 3 on EU Firms, we should explore alternatives. 

In August 2023, FX Options reached new highs with its 4th consecutive monthly record as market participants continued to see margin, capital and operational efficiency benefits from FX clearing. See our latest dashboard for highlights.

LCH ForexClear continues to deliver capital, margin and operational efficiencies to market participants. July 2023 ended with the seventh consecutive Average Daily Volume (ADV) monthly record, clearing $10.5bn in FX Options. See our latest dashboard for highlights.

LCH EquityClear’s strong performance continues, with the service in LCH Ltd clearing 914m trade sides and with LCH SA clearing 190m trade sides. Our network of members and their clients benefit from large-scale clearing of a broad range of equities and equivalent products, via connections to multiple exchanges, trading venues and CSDs, across diverse market segments and trade feeds. Learn more about our pan-European clearing service in our H1 factsheet here.

In Q2 2023, 28 major financial institution groups were live at LCH SwapAgent, up from 21 in Q2 2022, with 42 entities from 12 countries live, up from 35 in Q2 2022. This has driven a 91% increase in notional registered over the same period, which stood at $10.2 trillion at the end of the last quarter. See our latest dashboard for more Q2 highlights and new developments at SwapAgent.