LCH ForexClear, an LSEG business, announces that US-based bank Wells Fargo has joined as a member and has processed its first NDF trade through the service.
Wells Fargo is now able to benefit from ForexClear’s offering including comprehensive margin, liquidity and netting opportunities.
Andrew Batchelor, Head of ForexClear, LCH, said:
“We are delighted to welcome Wells Fargo as our latest member, as we continue to expand our offering to financial institutions globally, following the addition of two new members from Asia and Europe in 2023. Their membership reinforces our commitment to providing leading FX clearing and financial resource and risk management services to the FX market, as a growing number of firms increase their cleared flow.”
Vincent…
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