About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SwapClear Passes US$1 Trillion in Overnight Index Swap Trades in 11 Weeks Since Launch

Subscribe to our newsletter

LCH.Clearnet Limited’s SwapClear service has surpassed the US$1 trillion market in cleared overnight index swap (OIS) trades in only 11 weeks since OIS clearing was launched.

SwapClear is the leading global interest rate swap clearing service. Launched in 1999, it currently clears circa 64% of the global interbank interest rate swap market and, at 30 September 2009, had US$202 trillion in outstanding notional trade sides.

Further developments are planned for the coming months, including a service tailored for the buy side and extensions to tenors to up to 50 years in some of the 14 currencies currently cleared.

Alberto Pravettoni, managing director of Commercial Services, LCH.Clearnet said: “The success of SwapClear’s OIS offering demonstrates the market’s appetite for tailored OTC clearing solutions. Dealers have long recognised the operational and risk management benefits of clearing interest rate swaps, as well as the proven effectiveness of the SwapClear default management process.”

The resilience of SwapClear’s default management process was demonstrated in September 2008 when it successfully handled Lehman’s US$9 trillion interest rate swap default. The highly effective default management process ensured that 66,390 trades were hedged and auctioned off to other clearing members in a timely fashion and that the default was managed well within the margin held and with no recourse to the default fund.

LCH.Clearnet Limited is both a Financial Services Authority (FSA) Recognised Clearing House and a Commodity Futures Trading Commission (CFTC) registered Derivatives Clearing Organisation (DCO).

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

NeoXam Sets Sights on Narrowing Private Data Gap Between GPs and LPs

As demand for private markets data accelerates, asset allocators are finding themselves having to play digital catch up with their investor counterparts. General partners (GPs), who manage private funds and allocate capital invested by limited partners (LPs) have found themselves technologically behind the curve as institutional investors plough into the once-niche markets. But because LPs are...

EVENT

ExchangeTech Summit London

A-Team Group, organisers of the TradingTech Summits, are pleased to announce the inaugural ExchangeTech Summit London on May 14th 2026. This dedicated forum brings together operators of exchanges, alternative execution venues and digital asset platforms with the ecosystem of vendors driving the future of matching engines, surveillance and market access.

GUIDE

Corporate Actions Europe 2010

The European corporate actions market could be the stage of some pretty heavy duty discussions regarding standards going forward, particularly with regards to the adoption of both XBRL tagging and ISO 20022 messaging. The region’s issuer community, for one, is not going to be easy to convince of the benefits of XBRL tags, given the...