France lets LCH.Clearnet clear CDS index trades in Europe

07/21/2013 | Bloomberg

Charlie Longden, CEO of LCH.Clearnet Group's CDSClear, says the clearinghouse expects to soon be able to clear single-name credit default swaps, after gaining French approval to clear CDS index trades in Europe. "The market has been looking for a European CDS clearing solution for some time now," according to an e-mail from Barry Hadingham, Aviva Investors' head of derivatives and counterparty risk. "We are particularly pleased to see that the solution offers improved portability conditions and easy to navigate legal arrangements."

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