Citi and Standard Chartered Bank are some of the first to actively compress their trades through ForexClear.
LCH, a global Clearing House, announced this Tuesday that members of its ForexClear service, by using its compression service, have managed to reduce their notional outstanding by $4.5 billion.
On a financial instrument, the notional amount (or notional value) is the nominal or face amount that is used to calculate Payments made on that instrument. The notional outstanding amount is the monetary value of the open interest, i.e., the notional value of all contracts that are outstanding at a given time.
Compression allows ForexClear members to improve capital
LCH’s ForexClear allows investors to clear FX NDFs and physically delivered FX Options and their hedges. By using the compression solution, clearing members and their clients can get rid of offsetting trades, which reduces the notional outstanding and the number of line items in a portfolio.
Specifically, the compression solution on ForexClear allows its members and their clients to improve capital and operational efficiency by reducing notional outstanding. According to the statement released today, Citi and Standard Chartered Bank are some of the first to actively compress their trades at ForexClear.
Commenting on the announcement, Tamaryn Nuttall, Head of ForexClear Product, LCH, said: “Growth in FX clearing volumes has led to demand for solutions that drive down notional outstanding and contribute to greater capital and operational efficiency."
“Compressing $4.5 billion in cleared NDF notional is a significant milestone for LCH. We expect uptake of compression services to accelerate significantly over the coming year as clearing volumes continue to grow and as we expand our compression offering.”
The compression offering on LCH’s ForexClear includes both standard and blended rate solo compression, the statement said.
“Having seen the benefits of compression in our rates business, we’re delighted to be an early adopter of compression at ForexClear. It’s an effective way to reduce our notional outstanding and improve operational efficiency,” added Matt Turner, Director FM Balance Sheet Management, Standard Chartered Bank.
LCH, a global Clearing House, announced this Tuesday that members of its ForexClear service, by using its compression service, have managed to reduce their notional outstanding by $4.5 billion.
On a financial instrument, the notional amount (or notional value) is the nominal or face amount that is used to calculate Payments made on that instrument. The notional outstanding amount is the monetary value of the open interest, i.e., the notional value of all contracts that are outstanding at a given time.
Compression allows ForexClear members to improve capital
LCH’s ForexClear allows investors to clear FX NDFs and physically delivered FX Options and their hedges. By using the compression solution, clearing members and their clients can get rid of offsetting trades, which reduces the notional outstanding and the number of line items in a portfolio.
Specifically, the compression solution on ForexClear allows its members and their clients to improve capital and operational efficiency by reducing notional outstanding. According to the statement released today, Citi and Standard Chartered Bank are some of the first to actively compress their trades at ForexClear.
Commenting on the announcement, Tamaryn Nuttall, Head of ForexClear Product, LCH, said: “Growth in FX clearing volumes has led to demand for solutions that drive down notional outstanding and contribute to greater capital and operational efficiency."
“Compressing $4.5 billion in cleared NDF notional is a significant milestone for LCH. We expect uptake of compression services to accelerate significantly over the coming year as clearing volumes continue to grow and as we expand our compression offering.”
The compression offering on LCH’s ForexClear includes both standard and blended rate solo compression, the statement said.
“Having seen the benefits of compression in our rates business, we’re delighted to be an early adopter of compression at ForexClear. It’s an effective way to reduce our notional outstanding and improve operational efficiency,” added Matt Turner, Director FM Balance Sheet Management, Standard Chartered Bank.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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