Two banks sign up for ForexClear compression

New service brings greater capital and operational efficiency to FX market participants

compress dollars
Popularity boost: ForexClear expects uptake of compression services to accelerate significantly, says Tamaryn Nuttal

Citi and Standard Bank are among the first to take advantage of LCH ForexClear’s compression service, as market participants seek to reduce outstanding notional to improve their capital and operational efficiency.

Launched on the back of a significant uptick in FX clearing on the platform over the past two years, ForexClear members have so far compressed $4.5 billion of outstanding notional of FX non-deliverable forwards since the start of November.

The latest product roll-out by the clearing

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