LCH Listed Rates

LCH’s Listed Rates clearing service, in partnership with FMX Futures Exchange, enables members and clients to generate margin and operational efficiencies between their OTC and listed derivatives positions.

This is achieved by clearing US SOFR futures through our Listed Rates service and portfolio margining against cleared interest rate swap (IRS) positions at SwapClear, using our fully automated Portfolio Margining service.

The result is a potentially lower margin requirement, reduced counterparty risk – and a safer, more efficient portfolio.

Greater diversity and choice in the US dollar derivatives market increases resilience, capacity and provides additional liquidity.

Trusted, market-leading LCH clearing infrastructure, in partnership with FMX Futures Exchange. The LSEG Post Trade ecosystem and BGC Group’s world-class marketplace combine state-of-the-art technology to provide a new industry standard and seamless integration with independent software vendors (ISVs).

Potential for margin benefits by connecting your listed rates portfolio with the world’s deepest OTC interest rate liquidity pool, driving a safer and more efficient interest rate swap portfolio.

Our Portfolio Margining service runs daily and provides a fully automated, low-touch method of offsetting risks across cleared OTC and listed rates portfolios. Our process determines what to optimise, quickly identifies all available margin offsets and discovers correlations that collectively offer risk reduction across your aggregate portfolio.

Robust, proven risk management of the highest standard.

LCH has over 25 years’ experience in clearing derivatives across a number of asset classes and it shows in the sophistication of our clearing offering.

In interest rate markets, we currently offer clearing services for Three-Month SOFR futures executed at FMX Futures Exchange, BGC Group’s world-class marketplace for SOFR built on state-of-the-art technology.

FMX Futures Exchange L.P. is a Rates Exchange as defined in the Rulebook.
Learn more about FMX Futures Exchange

If you are a SwapClear member and wish to clear listed rates, please contact lchsales@lseg.com.

Details on how to become a Rates Exchange are available from RatesProduct@lch.com.

Listed Rates Contacts