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LCH.Clearnet Ltd, a worldwide clearing house, has received formal approval in the form of a clearing license from the Japanese Financial Services Agency (FSA), allowing the group to offer the clearing of non-Yen OTC interest rate derivatives to Japanese financial institutions, according to an LCH.Clearnet statement.
The license is important for LCH.Clearnet as it effectively enables the clearing house process and clear non-Yen OTC interest rate derivatives on behalf of Japanese banks via its SwapClear service. More broadly speaking, the new license also helps foster integration of the global Interest Rate Swap market into Japan through the group’s clearing infrastructural capabilities.
Moreover, the ... (read more)