LCH.Clearnet’s SwapClear has cleared its first two interest rate swap (IRS) trades for BlackRock. The asset manager executed one trade with Barclays Capital and the other with Goldman Sachs. The trades were carried out via Goldman.

The transactions were first executed on the Tradeweb platform with the counterparties. BlackRock through MarkitServ matched and transmitted the trades to SwapClear via its clearer. The central clearing will improve liquidity, lower systemic risk and bring greater transparency to the OTC derivatives markets.

Click here for the release from LCH.Clearnet.