Clearing house of the year: LCH.Clearnet
As home to most of the over-the-counter market's trades, LCH.Clearnet has a chance to tackle one of the industry's big grievances - the notional-based leverage ratio.
It's easy to walk past the Mercer restaurant on London's Threadneedle Street without noticing it. A small sign hangs next to the door. Framed menus sit on the wall either side, while window boxes and iron railings obstruct the view from the street. Michael Davie, chief operating officer of LCH.Clearnet, describes it as the ideal place for breakfast – but not because of its unobtrusiveness: "They have paper tablecloths that you can write all over," he says.
This proved useful on occasions when
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