LCH.Clearnet poised to announce FX options venture


LCH.Clearnet has signed 13 banks up to a new foreign exchange options clearing venture due to open for business in late 2011, according to a draft press release obtained by Risk. It is the first move into forex options by a central counterparty (CCP) and comes ahead of a likely clearing exemption for foreign exchange swaps and forwards by the US Treasury. The press release doesn't list the banks involved, but dealers have been whispering about the venture for some weeks - institutions said to