LCH in Aldgate saw “significant” rises in new clients across Europe, the United States and Asia JON ENOCH FOR THE TIMESThe City of London has retained its prized position as the international home for the settlement of complex financial transactions, with LCH, the London clearing house, reporting record trade in 2017. LCH said that it had hit new records on the back of processing its biggest volumes of inflation, interest rates and foreign exchange swaps. The news is likely to be used as an argument against moving much of the London Stock Exchange-owned LCH or the clearing house function to another city in the eurozone after Britain leaves the European Union. Clearing ensures that trades made across financial markets are completed if one side of the party defaults. Clearing houses place themselves between the buyer and seller of a trade, acting as the circuit breaker.

Source: The Times January 08, 2018 00:05 UTC