LCH.Clearnet poised to announce FX options venture
Clearer will extend coverage to third asset class in 2011, with support from 13 banks
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
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