Post Trade - LCH

Provides clearing services through which counterparty risk is mitigated across multiple asset classes for sell-side clearing members and buy-side clients in conjunction with trading venues globally.

Income contribution CY 2015


Sub-segment Main types of revenue Customer profile Highlights KPIs
Clearing and related services 

• Fees based on trades or contracts cleared
and CCP services provided

• Fees for SwapClear interest rate swap service and other OTC derivative clearing primarily based on membership fees or client trades

• Fees for managing non-cash collateral

• A wide base of banks, brokers and fund manager firms worldwide for OTC derivatives and listed equity, derivatives, fixed income and commodities

• SwapClear Compression services enhanced with resulting US$111 trillion annual drop in interest rate swaps notional outstanding

• LCH was named Risk Magazine’s 2016 Clearing House of the Year for the third year in a row

  • SwapClear notional cleared 2015: US$533tn
    (2014: US$642tn)
  • SwapClear notional compressed 2015: US$328tn
    (2014: US$292tn)
  • SwapClear Client trades cleared 2015: 678,000
    (2014: 407,000)
  • Cash equity trades cleared 2015: 549m
    (2014: 452m)
  • Average cash collateral held 2015: €56.9bn
    (2014: €47.1bn)
Interest income • Net interest on cash held for margin and default funds