London-based clearing house LCH.Clearnet is working to expand its credit default swap (CDS) service, as it looks to position itself as a multi-asset class clearer.
The firm's Paris-based entity, LCH.Clearnet SA, began clearing eurozone CDS contracts in March 2010, but the service has had limited take-up. As of August 19, just 1,214 contracts have been cleared since launch, with a notional value of €49.37 billion. That compares with 131,213 index and 176,228 single-name contracts with a total not
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