Mizuho Bank Becomes Latest Member to Join LCH SwapAgent

Mizuho Bank has gone live on LCH SwapAgent as a member, having processed its first cross-currency swap through the service. According to a story in The Trade news, Mizuho Bank will be able to benefit from SwapAgent’s offering including centralized trade processing and optimization. “Joining SwapAgent as a member is crucial for us to be able to offer our own clients an enhanced service that improves standardization and efficiency in the cross-currency swap market, as well as reduces operational and credit risk. We look forward to unlocking these capabilities through SwapAgent,” said Kenichiro Kobayashi, head of Europe Treasury department, operating officer at Mizuho. SwapAgent offers solutions targeting improved standardization, efficiency and simplicity in the non-cleared derivatives market.