LCH.Clearnet splits default fund

LCH.Clearnet splits default fund

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LCH.Clearnet will split its single default fund into two on May 7 as part of a revamp of its entry, membership and risk and default management criteria. The clearing house, which currently has a single mutualised default fund to cover its interest rate swaps, repo, equity and exchange-traded derivatives clearing services, and a separate default fund for ForexClear, its foreign exchange clearing service, is making the change in response to a US Commodity Futures Trading Commission (CFTC) rule

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