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LCH Adds Wells Fargo As Clearer

Wells Fargo Bank has joined LCH.Clearnet’s global clearing service for over-the-counter interest rate swaps SwapClear.

    Wells Fargo Bankhas joinedLCH.Clearnet’s global clearing service for over-the-counter (OTC) interest rate swapsSwapClear. The lender will bring the total number of SwapClear clearing members to 54.

    SwapClear has cleared over 1.5 million OTC interest rate swap trades since its launch in 1999. The 950,000 trades in SwapClear have an aggregate notional principal amount of over $295 trillion, with a further $41.5 trillion of cleared transactions, addsFinextra.

    Click here for the release fromLCH.Clearnet.

    Click here for additional coverage fromFinextra.

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