LCH Clearnet set to clear US trades

The London-based clearing house can now compete fully with, for example, the New York Mercantile Exchange, which clears its own members' trades as well as over-the-counter (OTC) trades.

LCH has been able to clear OTC trades in the US since November 2001, when it became registered as a derivatives clearing organisation (DCO) there. The company is the only non-US-domiciled central counterparty to hold DCO status.

Clearing houses - or central counterparties - manage confirmation, delivery and

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