LCH selects onExchange for OTC power clearing

Financial technology firm onExchange has signed up with the London Clearing House (LCH) to provide clearing for over-the-counter electricity contracts traded on the Amsterdam-based European Energy Derivatives Exchange (Endex).

LCH will use Cambridge, Massachusetts-based onExchange’s Extensible Clearing System (ECS) to process trades. OnExchange says the ECS system supports all products in energy and related markets, including power, natural gas, crude oil, emissions and weather derivatives.