LCH To Begin U.S. Swap Clearing In Feb

LCH.Clearnet目标是开始清算interest rate swaps in the U.S. in February,Financial Timesreports. Pending approval from the U.K.’sFinancial Services Authority, the clearinghouse’sSwapClearunit will start offering clearing of swaps to asset managers, hedge funds and other non-bank users in the U.S.

The firm appointedFloyd Converse, an ex-Merrill Lynchbanker, to lead sales and marketing at SwapClear, based in New York.CME Grouphad launched interest rate swaps clearing in October, whileInternational Derivatives Clearing House, controlled byNasdaq OMX, has also launched a service.

Click here for the story fromFinancial Times.