ForexClear launches client clearing for NDFs

Gavin Wells, ForexClear

LCH.Clearnet has launched buy-side clearing for foreign exchange non-deliverable forwards (NDFs), expanding the scope of its ForexClear service, which was launched in March 2012 and has until now been open only for interbank clearing.

ForexClear offers NDF clearing in 11 emerging market currencies and has cleared a notional volume of $1.2 trillion since launch. It has been operationally ready to clear client trades for close to a year, having had the offering approved by the UK Financial

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