LCH, a leading global clearing house, today announced that it has received approval for an extension to its clearing licence from the Japanese Financial Services Agency (FSA).
This latest approval comes in addition to LCH’s existing licence to clear non-Yen OTC interest rate derivatives in Japan, which was granted by the FSA in 2016. Prior to LCH obtaining this latest licence, Japanese customers could only access ForexClear through international subsidiaries.
Kate Birchall, Head of Asia Pacific, LCH Ltd, said: “Tokyo is home to one of the world’s largest FX derivatives markets and we are honoured to have been awarded this licence to clear NDFs in Japan. This development is an important step for the market, providing Japanese firms access to LCH’s clearing services and global liquidity pool, reaffirming our long-term commitment to Japan.”