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LCH scoops up Ice Clear Europe’s CDS clients
“A sizeable majority” of European CDS users are shifting their business to CDSClear in Paris
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LCH is mopping up the bulk of clients from Ice’s credit default swap (CDS) clearing service in London, which is being relocated to Chicago.
At one large bank, around three-quarters of clients that clear CDS trades at Ice Clear Europe are closing their positions and reopening them at LCH’s Paris-based CDSClear. “We are seeing a sizeable majority of the existing Ice Clear Europe clients looking to document with LCH,” says the bank’s head of derivatives clearing.
A clearing executive at a
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