SwapClear hits $1 trillion mark for buy-side OTC clearing
A third of the figure was cleared in the last month alone - and volumes are expected to increase rapidly as clearing deadlines approach
The total notional volume of interest rate swaps cleared by buy-side firms at LCH.Clearnet's SwapClear service has broken the $1 trillion barrier, with a third of the volume increase coming in May alone.
The symbolic figure was reached on May 28 – two-and-a-half years after the first client trades were cleared – but most of the growth in client clearing has come over the past three months, with total notional volumes increasing 33% in March, 23% in April and another 33% in May. Yesterday
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