ForexClear Sees Record Activity in October

ForexClear,
LCH Clearnet’s centrally cleared FX operation, reported record volumes in
October, driven in large part by activity in Latin American currencies.

The CCP
cleared $500 billion in notional in October, with over 20,000 trades cleared in
just one week and almost 80,000 cleared during the entire month.

By
contrast, in July less than 20,000 contracts with a notion value of less than
$125 billion were cleared at the CCP.

ForexClear
says that while an increase in Asia currency NDF volumes helped drive this
growth, Latin American currencies saw and even greater increase in activity,
with $64 billion of BRL fixing at the end of the month.

“We’ve been
trying to meet everyone in person; a team from ForexClear in London recently
joined our Sydney office for 45 meetings in Hong Kong and Singapore in one
week, and in North America, we’ve had an FCM Roadshow as well as trips to
Canada and Chicago. But it’s your support that ensures ForexClear continues to
lead the way in Asia Pacific,” says Paddy Boyle, head of ForexClear in a
monthly update note issued today.

Colin Lambert

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