The Royal Bank of Canada (RBC) has become the first Canadian clearing member to join LCH CDSClear. The membership will give RBC a broader range of products eligible for clearing, enabling the bank to benefit from margin and operational efficiencies across its CDS portfolio.
Parent company London Stock Exchange Group (LSEG) states in a press release that the onboarding of RBC adds to “the continued expansion of LCH CDSClear globally”. Under its international growth efforts, the firm has extended its product offering to include Asian and emerging market indices, as well as client clearing services for US credit derivatives market participants.
Marcus Robinson, head of CDSClear and DigitalAssetClear at LCH shares in a statement that the firm is “committed to increasing the level of choice market participants have in CDS clearing”.
