- Royal Bank of Canada (RBC) first Canadian clearing member to join LCH CDSClear.
- Demonstrates the continued expansion of LCH CDSClear globally, offering market participants further choice of where to clear their CDS portfolios.
- LCH CDSClear offers the widest breadth of products of any credit CCP globally.
LSEG today announces that Royal Bank of Canada (RBC) has joined LCH CDSClear as the first Canadian clearing member, providing them access to the broadest range of credit products eligible for clearing, enabling them to benefit from margin and operational efficiencies across their CDS portfolio.
RBC joining CDSClear, as a market maker in both European and US indices, allows them to benefit from a growing pool of CDS liquidity. LCH CDSClear has seen significant growth this year so far and registered record clearing volumes for US$ and EUR Indices inQ1 2025. A record US$1tn of CDX™ and iTraxx® indices notional was cleared in Q1 2025, up 332% vs Q1 2024. A record €1.58trn of European iTraxx® indices notional was also cleared, up 52% vs Q1 2024.
Marcus Robinson, Head of CDSClear and DigitalAssetClear, LCH, said: “We are delighted to welcome RBC as our first Canadian clearing member, and for the bank to be part of our significant growth journey at CDSClear. We are committed to increasing the level of choice market participants have in CDS clearing and are proud to offer an international clearing member such as RBC access to our broad range of CDS products and access to trade with members and clients across the globe.”
Santosh Sateesh, MD, Global Head of Credit Derivatives Trading, RBC said: “We are proud to be a part of the growing service at LCH CDSClear, with capability to clear a wide range of credit derivative products while achieving significant risk management efficiencies. This move demonstrates our commitment to our clients across the globe.”
In recent years, LCH CDSClear has extended its product offering to include Asian and Emerging Market indices and their Single Names, as well as Sovereign Single Names, and clearing for iTraxx Australia Indices and their Single Name constituents.
LCH CDSClear also expanded its client clearing services to US credit derivatives market participants in 2024.
Learn more about the service LCH CDSClear: Credit Default Swap Clearing Solutions
Contacts
LSEG Press Office
Harriet Leatherbarrow
Tel: +44 (0)20 7797 1000
Email: newsroom@lseg.com
Website: www.lseg.com
About LCH
LCH builds strong relationships with credit, digital asset derivatives, equity, fixed income, foreign exchange (FX) and rates market participants to help drive innovative performance and deliver best-in-class risk management.
As a clearing member or client, partnering with us helps you increase capital and operational efficiency, while navigating an expanding and complex set of cross-border regulations, thanks to our experience and expertise.
In partnership with our stakeholders, we have helped the market transition to central clearing and continue to introduce innovative enhancements. Choose from a variety of solutions such as compression; sponsored clearing; credit index options clearing; contracts for differences clearing; and digital asset derivatives clearing. Our focus on innovation and our uncompromising commitment to service delivery makes LCH, an LSEG business, the natural choice of some of the world’s leading market participants globally.
About LSEG
LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.
