Refinitiv FXall Connects to LCH ForexClear

Refinitiv FXall has expanded FX traders’ access to cleared workflows for FX OTC trades by building connectivity to LCH ForexClear from Settlement Center, FXall’s post-trade processing platform. This change gives FXall users a streamlined and quicker way of clearing NDF trades through LCH ForexClear. The new connectivity to LCH ForexClear allows FXall clients to access the risk management and efficiency benefits of clearing by electing to clear their NDFs post-trade in Settlement Center. The implementation of Phase 5 of the Uncleared Margin Rules (UMR) in September 2021 is causing buy-side institutions to assess how they will be affected and weighing the benefits of FX clearing. Institutions are evaluating the costs and operational challenges associated with these new margin requirements for uncleared trades and may instead elect to clear portions of their FX flow.