LCH scoops up Ice Clear Europe’s CDS clients
“A sizeable majority” of European CDS users are shifting their business to CDSClear in Paris
LCH is mopping up the bulk of clients from Ice’s credit default swap (CDS) clearing service in London, which is being relocated to Chicago.
At one large bank, around three-quarters of clients that clear CDS trades at Ice Clear Europe are closing their positions and reopening them at LCH’s Paris-based CDSClear. “We are seeing a sizeable majority of the existing Ice Clear Europe clients looking to document with LCH,” says the bank’s head of derivatives clearing.
A clearing executive at a
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