LSEG to launch clearing for equity swaps

Turquoise, LCH tie-up comes as equity swaps attract regulatory scrutiny in wake of Archegos

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London Stock Exchange Group will begin clearing over-the-counter equity total return swaps in the first quarter of 2023, in a move that could help address concerns over an asset class that contributed to the $10 billion failure of family office Archegos Capital Management last year.

The planned service will operate as a partnership between two LSEG units: derivatives trading venue Turquoise Nylon and LCH’s EquityClear platform. The structure aims to reconcile the bespoke nature of total return

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