Essentials

Listed Rates service opening hours

The LCH Listed Rates clearing service is open daily for trade registration from 21:00 to 17:00 New York time, starting from Sunday 21:00 and ending Friday 17:00. The service is open from 17:00 to 18:00 New York time Monday to Friday for post trade activities.

LCH’s Portfolio Margining tool provides LCH SwapClear and Listed Rates members with a fully automated method of offsetting risks across cleared OTC and listed rates portfolios.

This process runs daily at 18:00 New York time, moving Futures that benefit from portfolio margining into the SwapClear liquidity pool.

Currently 3 Month SOFR Futures are eligible for this service.

• Determines what to optimise
• Quickly identifies all available margin offsets
• Discovers correlations that collectively offer risk reduction across the aggregate portfolio

The LCH Rates Online Margin Calculator helps users to understand key margin drivers, optimise margin, risk and liquidity management, proactively manage dynamic exposures and deliver margin efficiencies.

For our Listed Rates service, the calculator includes the capability for users to simulate their margin requirements across both their OTC cleared and listed portfolios via the OTC-Listed Optimisation feature, allowing them to view potential benefits of Portfolio Margining.

To request access to the LCH Rates Online Margin Calculator, please contact listedratesonboarding@lch.com.

FCMs (as direct members), clients and FCM affiliates can all clear with Listed Rates.

Direct membership of the Listed Rates services in limited to US FCMs, but other entities may be eligible for clearing via an affiliate structure. Client clearing is supported via an FCM customer model.

Membership for FCMs is a two-step process. If new to LCH, our onboarding and approval process will need to be completed, followed by the FMX Futures Exchange onboarding process.

If previously a member of Listed Rates, the new member onboarding and approval process will not be required. Only the FMX Futures Exchange onboarding process will be required.

Please contact listedratesonboarding@lch.com for more information about the onboarding process and to get started.

LCH supports FCMs and their affiliate house accounts, allowing FCMs to leverage margin offset capabilities for UK and EU clearing entities. FCMs will have a direct membership with LCH in this scenario, with UK and EU entities onboarded as affiliate of the FCM.

For further information please contact lchsales@lseg.com.