Bermuda domiciled OTC product trading platform 24 Exchange has announced that it is officially an approved trade source for FX NDF clearing at LCH ForexClear, a leading foreign exchange clearing solution which is part of the Post Trade division of LSEG (London Stock Exchange Group). The company completed its first LCH-cleared production trade involving 24 Exchange’s strategic partner Standard Chartered Bank, becoming the second electronic FX trading platform provider to offer its non-U.S. users a direct workflow to LCH ForexClear.
24 Exchange’s non-U.S. users are now able to both trade and immediately clear trades with LCH ForexClear, with the potential to benefit from a reduction in counterparty risk and uncleared margin rule requirements, with multi-lateral margin netting.
