Press Release
| Contact: | John Burke - Director, Fixed Income
|
Michael March Director, Corporate Communications
|
LCH.Clearnet Fixed Income clears a record 16 trillion in first quarter 2005
London, 5 May 2005
LCH.Clearnet, Europes largest central counterparty for clearing government and supranational debt, announces record volumes for the quarter ending March 2005.
A record of 15.64 trillion nominal value of trades cleared was reached during the first quarter; an increase of 11% compared to the same period in 2004. During March alone, a nominal value of 5.88 trillion figures was registered making it a new monthly record for the service. The overall value of netting also reached a new peak during March, with 10.8 trillion of business being netted down to just 3.4 trillion, meaning that a total of 7.4 trillion in cash and bonds required no settlement and incurred no
operational risk.
Commenting on the growth in activity John Burke, Director - Fixed Income at LCH.Clearnet said: This new record is consistent with increased market demand for centrally-cleared products and highlights the positive benefits of the merged central counterparty.