LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
The derivatives market's biggest swaps clearer, LCH, today announced plans for a platform that could place it at the heart of the non-cleared market as well. Eleven dealers have confirmed their support for the service, which is slated to go live in the first half of 2017.
The SwapAgent service – talk of which was first reported by Risk.net in June – would use LCH swap curves to calculate variation margin calls, a role that is currently performed by the parties to a trade. Users would also agree
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