Commerzbank Joins ForexClear

Commerzbank has become the 23^rd member bank on LCH ForexClear, according to an announcement by the LSEG-owned clearinghouse.

The bank also joins 22 clearing brokers and 88 active clients, LCH adds, and will now benefit from margin, liquidity and netting opportunities, as well as improved capital and operational efficiencies.

“[Joining] LCH ForexClear enables us to further expand our global FX platform business through an optimised capital usage and allows us to benefit from operational efficiencies,” says Marius Jubin, global head of FX forwards at Commerz. “In addition, ForexClear offers the opportunity to effectively manage bilateral credit exposures and participate in established risk-mitigating industry initiatives.”

Andrew Batchelor, head of ForexClear, LCH, adds, “It’s great to welcome Commerzbank to LCH ForexClear. Over the past 18 months, financial institutions from Europe, Asia and the US have joined us and chosen to clear their FX trades with us, and we have seen record volumes across our products. We remain committed to extending our leading clearing services to the global FX market and offering further margin, capital and risk management optimisation opportunities as the service continues to grow.”