Though a deadline for mandatory clearing isn't until Monday, LCH.Clearnet Group says SwapClear has cleared more than $22 trillion notional in interest-rate derivatives. "We are pleased with the surge in buy-side activity, but more specifically we are encouraged by the volume of trades, as this is the real indication of the market's readiness for central clearing," said Daniel Maguire, head of SwapClear in the U.S.

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