This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

State Street Global Exchange Joins LCH.Clearnet’s SwapClear

State Street Global Exchange announced today that it is now clearing over-the-counter interest rate swaps using LCH.Clearnet Ltd.’s, SwapClear service. The announcement comes shortly after SwapEx SM, State Street’s electronic trading platform for interest rate and FX derivatives, was provisionally registered as a swap execution facility (SEF) by the CFTC in September. SwapEx began trading on October 8, 2013.

“Our SwapClear membership gives our global client base access to the world’s largest clearing house for interest rate swaps with deep liquidity pools and superior risk management,” said Martine Bond, head of trading and clearing at State Street Global Exchange. “As an entire industry aligns itself with the new regulatory environment, having comprehensive clearing and servicing solutions ensures that our clients are efficient across the entire derivatives trade lifecycle.”

“State Street is an important addition to SwapClear’s global membership roster” said Daniel Maguire, head of SwapClear US at LCH.Clearnet. “Buy-side clients will benefit from the addition of a global industry leader to an already strong pool of direct clearing members and liquidity providers.”

SwapClear membership expands State Street Global Exchange’s existing end-to-end derivatives solution, DerivOne SM, which includes execution, clearing, servicing, collateral management, valuation, and risk and analytics for over the counter and exchange traded derivatives. State Street has been a member of CME Group since 2010 and is actively pursuing other clearing memberships.

State Street Global Exchange delivers proprietary data, insights, analytics and trading solutions to address clients’ needs to make better investment decisions, generate superior returns and effectively manage data and risk. LCH.Clearnet is the largest clearer of interest rate swaps, clearing over 95% of the world's cleared interest rate swaps. LCH.Clearnet launched SwapClear in 1999, and it has been a CFTC-regulated derivatives clearing organization since 2001.

About LCH.Clearnet

The LCH.Clearnet Group is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets. LCH.Clearnet’s world-class risk management framework provides exceptional levels of protection to international markets, as has been proven through the management of recent defaults. As demand for robust clearing services continues to grow, LCH.Clearnet is committed to achieving the highest standards of risk management across all asset classes cleared. LCH.Clearnet is majority owned by London Stock Exchange Group (LSE.L), a diversified international exchange group that sits at the heart of the world's financial community.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,684.44 +6.21 0.04%
S&P 500 2,058.32 +2.17 0.11%
NASDAQ 4,881.4510 +18.0890 0.37%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs