Capitalab joins LCH compression race

Vendor claims it can dramatically improve reduction in notionals by incorporating non-cleared trades

Capitalab has muscled into the competitive market for derivatives compression at LCH after gaining approval to provide services to SwapClear members in late December – the second new provider to join in the space of three months – setting up a three-way tussle between vendors looking to crush swaps notionals at the world’s largest clearing house.

The vendor, a unit of broker BGC, is poised to conduct its first compression run through SwapClear later this month. The firm already offers