LCH’s ForexClear service has unsurprisingly reported a record quarter in Q1 as FX volumes more broadly sky-rocketed.
The clearinghouse says the service cleared $5.4 trillion in notional, 25% higher than Q1 2019, of this $41.6$ was client notional, up more than four and a half times the same quarter in 2019. $162.1 billion in deliverable notional was cleared – this is up 236%.
LCH’s SwapClear service also had a record quarter at $402 trillion in notional cleared, 26% up from Q1 2019, this included three record days for notional cleared and one, March 10, for number of trades cleared. There were also records for CDSClear, RepoClear and EquityClear, the group says.