Banks call for CCPs to act on compression

Revamped service at LCH.Clearnet has $200 trillion target for 2014

scissors cutting a dollar bill into strips

Trade compression will become a key battleground in over-the-counter derivatives clearing, dealers predict, as central counterparties (CCPs) vie to ease the capital burden on their bank members. LCH.Clearnet's SwapClear was forced to shut its existing compression service for a large chunk of 2013, as it sought to comply with US clearing rules, but has since restarted it and on March 10 expanded the service in an attempt to make it more efficient. CME Group plans to launch a multilateral compress

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