Recognition given to LCH.Clearnet 04 August 2014Quebec Reporter: Catherine Van de Stouwe
Image: Shutterstock
LCH.Clearnet has been granted clearing house recognition by the Autorité des Marchés Financiers (AMF).
The recognition will allow LCH.Clearnet to offer SwapClear, RepoClear, ForexClear and Nodal clearing services to members based in Quebec.
In addition to this recognition, LCH.Clearnet is also recognised as a cleating agency by the Ontario Securities Commission and six Canadian institutions currently clear as members of LCH.Clearnet’s SwapClear service.
Michael Davie, CEO of LCH.Clearnet, said: “We are delighted to have secured recognition from the AMF. Given the prominence of Canada’s financial sector within the global marketplace it has been a key focus of our geographic expansion plans for some time now.”
“This development is a testament to our contributions to market resilience in the region thus far, particularly for [over-the-counter] interest rate derivatives, where adoption of clearing has increased significantly.”
“As a global [central counterparty], we deliver efficiencies to local markets, providing clearing in multiple jurisdictions and currencies, offering our large and diverse membership access to an unrivalled pool of liquidity.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 