Options clearing on track, says LCH's new head of FX

While options clearing is still in the pipeline, cleared NDFs peak

clearing capital to increase
Going up: ForexClear cleared a record volume of NDFs in June – a notional value of $107 billion

Paddy Boyle, the new head of FX product at LCH's ForexClear, says the clearing of foreign exchange options remains a strategic priority for the company and he expects such a service to launch next year.

Market participants have been gearing up for the kick-in of initial margin rules for uncleared swaps, but despite an original launch date of 2011, the options-clearing service has suffered repeated delays due to technical issues related to same-day liquidity settlement and guaranteed delivery.

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