LCH.Clearnet LLC
| ' | |
| |
| Founded | 2012 |
|---|---|
| Headquarters | New York |
| Key People | David Weisbrod, CEO |
| Products | U.S. clearing arm of LCH.Clearnet Group, Ltd. |
LCH.Clearnet LLC is the U.S. subsidiary of London-based derivatives clearing organization LCH.Clearnet Ltd. LCH.Clearnet LLC was created in August 2012, after the acquisition of International Derivatives Clearing Group, the interest-rate derivatives clearinghouse majority owned by the Nasdaq OMX Group.[1]
History[edit]
In April 2012, it was announced that LCH.Clearnet had agreed to buy International Derivatives Clearing Group, the interest-rate derivatives clearinghouse majority owned by the Nasdaq OMX Group.[2] [3] The acquisition was completed on August 15, 2012, with LCH paying EUR 19.00 per share of IDCG. Also as part of the deal, Nasdaq OMX received a 3.7 percent stake in LCH.Clearnet.[4]
After the IDCG acquisition, the U.S. derivatives clearing organization (DCO) was renamed LCH.Clearnet LLC. On January 23, 2013, the Commodity Futures Trading Commission approved LCH's revised rulebook and amended registration as a DCO, wihich permits it to clear futures contracts, options on futures contracts, commodity options, and swaps where interest rates and/or currencies in the U.S.[5]
Key People[edit]
- David Weisbrod, CEO
References[edit]
- ↑ LCH Buys IDCG, U.S. Swaps Clearinghouse, From Nasdaq. Bloomberg.
- ↑ LCH.Clearnet in Talks to Buy International Derivatives Clearing Group from Nasdaq. Securities Technology Monitor.
- ↑ LCH.Clearnet in Talks to Buy Nasdaq's Rate Clearinghouse. Bloomberg.
- ↑ LCH Buys IDCG, U.S. Swaps Clearinghouse, From Nasdaq. Bloomberg.
- ↑ CFTC Approves Rulebook and Issues Amended Registration Order for LCH.Clearnet LLC. CFTC.