UNITED KINGDOM: LCH CDSClear Continues Global Expansion with Launch of Clearing for Sovereign Single Names and New Indices

Thursday December 15 2022

On 15^th December 2022, London Clearing House (LCH) CDS Clear  announced the expansion of clearing services to include the iTraxx Asia ex-Japan Indices and CDX Emerging Market Indices, and their single name constituents, as well as other Sovereign Single Names, as it looks to extend the benefits of clearing to an even greater number of firms globally.   

The new products comprise 11 contracts within the iTraxx Asia ex-Japan indices, including 62 Corporate and Sovereign Single Names, of which 41 are exclusive to LCH CDSClear; 11 contracts within the CDX Emerging Markets indices, including 19 Sovereign Single Names; 21 additional Emerging Markets and Asia Pacific Sovereign Single Names, of which 14 are exclusive to LCH CDSClear; and 16 Western European Sovereign Single Names, four of which are exclusive to LCH CDSClear. 

This follows the announcement in September 2022, that LCH CDSClear has gone live with clearing for 11 iTraxx Australia Indices and 38 of its Single Name constituents. LCH CDSClear has seen record activity this year, in particular with cleared notional and market share in European Single Names reaching new highs in Q3 2022.  

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