ForexClear exceeds $1 trillion of monthly cleared FX trades

Milestone reached ahead of the second tranche of uncleared margin rules taking hold in September

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More to clear: LCH has seen a flurry of activity and set a new daily record on August 29

LCH’s ForexClear platform cleared more than a trillion dollars’ worth of non-deliverable forward (NDF) trades in August, surpassing the previous high of $924 billion reached in March.

The platform also set a new daily record on August 29, clearing $65 billion of NDFs in a single day.

Over the past year, LCH has seen a flurry of activity on its platform on the back of the introduction of uncleared margin rules in September 2016, which pushed up the cost of uncleared over-the-counter derivatives

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