The share of client positions at LCH Ltd, the group’s UK-registered clearing house, that are handled by the five largest clearing members exceeded 75% at end-2017, with concentrations rising over recent quarters at three of its services.
Concentrations within the commodities clearing service have risen for three consecutive quarters to end-2017, for exchange-traded derivatives, two quarters, and for cash equities, six quarters.
Concentration of client positions among the top five members of
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