Margin rules lead to rise in Asian NDF clearing volumes
LCH and Eurex position themselves for NDF clearing uptick ahead of next UMR phase
Interest in clearing Asian currency non-deliverable forwards (NDFs) is growing, as buy-side firms in the region seek to reduce the amount of margin they need to post under new rules for uncleared trades.
Data from LCH shows a steady rise in client clearing of FX trades over the past 12 months. It saw its highest ever volumes in September of US$28 billion, with three of the top four cleared NDF currencies being Indian rupee, Korean won and Taiwanese dollar.
“Interest in NDF clearing has
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