ForexClear reaches $500 billion notional cleared 28 January 2013New York Reporter: Jenna Jones
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LCH. Clearnet has cleared more than $500 billion in notional of FX NDFs through its ForexClear service since it launched in March 2012. The volumes were driven by figures of $207 billion in Q4.
ForexClear—which was created in collaboration with FX market participants and global regulators—has been driven by demand for clearing solutions as FX market participants seek to manage their counterparty risk exposures.
Gavin Wells, CEO of ForexClear, said: “The strong growth in volumes cleared through ForexClear indicates that FX participants have full confidence in our offering and we are very proud of the outstanding progress made since launch just 11 months ago.”
“Furthermore, we remain fully committed to supporting the ambitions of global regulators, as demonstrated by our timely delivery of reliable and comprehensive FX data reporting.”
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