LCH.Clearnet said that for the first time, screen traded OTC freight and commodity derivatives will be processed real time into clearing.
Transactions will be fed directly to LCH.Clearnet, cutting the clearing cycle from half an hour down to a fraction of a second.
LCH.Clearnet director Isabella Kurek-Smith said they have worked closely with Cleartrade Exchange to integrate their robust technologies, bringing a significantly faster and more efficient clearing process for these growing OTC markets. The introduction of screen trading, coupled with direct clearing, will lead to increased transparency and liquidity.
Cleartrade Exchange provides participants in freight and commodity markets with electronic order input, management and processing of OTC swaps into nominated clearing houses such as LCH.Clearnet.
