ABN AMRO Clearing has joined LCH.Clearnet’s over-the-counter (OTC) interest rate swap (IRS) clearing service, SwapClear. The recent move brings the total number of SwapClear clearing members to 37.
ABN AMRO will be able to reduce counterparty, credit and operational risk through the service, which will also bring greater transparency and efficiency. SwapClear’s product scope covers the world’s 14 largest currencies with tenors up to 50 years in the U.S. dollar, euro and pound.
Click here for the release from LCH.Clearnet.