Goldman Sachs Goes Live as Clearing Broker for LCH

LCH – part of the post-trade division of London Stock Exchange Group – has announced that Goldman Sachs International and Goldman Sachs Bank Europe SE have gone live as clearing brokers at CDSClear at it continues to expand its network. “By partnering with us, Goldman Sachs is expanding the credit clearing opportunities available to its clients, enabling them to reduce credit portfolio risk and capital, and benefit from margin offsets and operational efficiencies,” said LCH in a story in The Trade news. Europe-based CDSClear allows users to cross-margin European and US products. In 2012 it became an international service following regulatory efforts to enforce the central clearing of certain credit default swaps. Two years later, the European Securities and Markets Authority reauthorised the CCP to clear the products under the European Market Infrastructure Regulation. LCH has previously stated its intention to continue the expansion process for its clearing network and the range of credit products eligible for clearing.