LCH Clearnet launches OTC clearing for UK gas and power

London-based clearing house LCH Clearnet today launched its new clearing service for over-the-counter (OTC) contracts for UK national balancing point natural gas and UK peak and baseload power contracts.

The launch of the platform-independent clearing service will bring the benefits of central counterparty (CCP) services – removal of counterparty credit risk, multilateral netting, improved operational efficiency and straight-through processing – to the UK OTC energy market, said LCH.

The aim of clearing is to remove counterparty credit risk by way of the central clearing house guaranteeing both sides of an OTC trade. A clearing house therefore protects against counterparty default and

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