Post Trade - LCH

Provides clearing services through which counterparty risk is mitigated across multiple asset classes for sell-side clearing members and buy-side clients in conjunction with trading venues globally.

Income contribution CY 2016

 

Sub-segment Main types of revenue Customer profile Highlights KPIs
Clearing and related services 

• Fees based on trades or contracts cleared
and CCP services provided


• Fees for SwapClear interest rate swap service and other OTC derivative clearing primarily based on membership fees or client trades


• Fees for managing non-cash collateral and compression services

• A wide base of banks, brokers and fund manager firms worldwide for OTC derivatives and listed equity, exchange traded derivatives, fixed income and commodities

• SwapClear continues to grow with record clearing and compressed volumes


• LCH Spider, a new portfolio margining service for interest rate derivatives went live

  • SwapClear notional cleared 2016: US$666tn
    (2015: US$533tn)
  • SwapClear notional compressed 2016: US$384tn
    (2015: US$328tn)
  • SwapClear Client trades cleared 2016: 952,000
    (2015: 678,000)
  • Cash equity trades cleared 2016: 697m
    (2015: 549m)
  • Average cash collateral held 2016: €67.0bn
    (2015: €56.9bn)
Interest income • Net interest on cash held for margin and default funds