LCH to clear single-name CDSs for US clients

Paris-based CDSClear already in discussions to onboard its first US FCM

LCH.Clearnet building London
LCH: in discussions with futures commission merchants

The US Securities and Exchange Commission (SEC) has approved an application by LCH's CDSClear unit for registration as a clearing agency. The authorisation, granted on December 29, 2016, allows LCH to begin clearing single-name credit default swap (CDS) contracts for US clients.

The move is expected to boost competition in a business currently dominated by Ice Clear Credit, which launched client clearing for single-name CDSs in June 2013. CME Group registered with the SEC to clear single-name CD

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