FXall Connects to LCH ForexClear
Posted by Colin Lambert. Last updated: December 10, 2021
Refinitiv FXall has expanded FX traders’ access to cleared workflows for FX OTC trades by building connectivity to sister firm LCH ForexClear from Settlement Center, FXall’s post-trade processing platform.
The firm says the change gives FXall users a streamlined and quicker way of clearing NDF trades, and access to the risk management and efficiency benefits of clearing.
“FXall and LCH are committed to the principle of open access that offers market participants a range of options for clearing and trading,” says Jill Sigelbaum, head of strategic development & partnerships, FX at LSEG. “The combination of these two well-established brands that deliver on that commitment will empower institutions to minimise counterparty credit risk and achieve capital efficiency opportunities as new regulations come into effect.”
James Pearson, head of ForexClear, LCH, adds, “This initiative will expand the choice of trading venues available to buy-side firms that wish to access the risk management and efficiency benefits of clearing. The uncleared margin rules have sharpened the industry’s focus on initial margin and enhanced standards, and we look forward to working further with FXall and the broader market to ensure widespread access to clearing.”