LCH launches electronic exercise platform for CDS options

CCP touts method for speeding up manual settlement process as rival Ice gears up for options launch

Electronic trading

LCH has unveiled a new electronic platform for dealers and clients to exercise credit default swap (CDS) options cleared at the central counterparty (CCP), in a bid to improve the speed and resilience of the market’s current phone- and email-based manual approach to settlement.

LCH clears CDS index options on the iTraxx Europe Main and Crossover CDS indexes, with one-, two- and three-month expiries, which deliver into cleared index trades at CDSClear. Typically on expiry day – the third

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