LCH Limited, a global liquidation home and part of the LSEG market management, today announced that China’s Industrial and Commercial Bank (ASIA) Limited (“ICBC)), the flagship of the ICBC Group, has joined the LCH Swapclear as a member of the immediate clearance.
This participation in ICBC (Asia) and, by extension, the wider ICBC group, full access to LCH Swapclear’s multi -currency clearing capabilities, reflecting the Bank’s growth ambitions in the market for international derivatives.
In addition, ICBC (Asia) is able to commit to Chinese government government and European bonds, following an LCH initiative in May 2025 to make these types of eligible types eligible, unlocking new ways to finance efficiency. The bank also plans to participate in the LCH for Exclear service by the end of the year, allowing it to take advantage of a special liquidation solution for currency derivatives.
Mr. Xu Lei, Deputy Managing Director, ICBC (Asia), said:
“Being a member of the direct clearing of the LCH Swapclear is an important strategic initiative for ICBC (Asia) and reflects the significant growth we have achieved in both transactions and pending positions with the progress of LCH. Eligible collateral and look forward to further evolution.
Mrs Susi de Verdelon, Managing Director of LCH Limited, said:
“We are proud to welcome the ICBC (Asia) to the LCH Swapclear. Their participation represents an important milestone in our ongoing commitment to support the development of cleared derivatives across Asia and marks an exciting expansion of our network.
By 2020, LCH has added 18 new members to Asia -Pacific at all prices, FX and Repo Markets. Many more institutions have adopted after trade solutions, utilizing a comprehensive range of optimization and workflow tools tailored to bilateral derivatives.
These solutions help regional banks to overcome business restrictions, manage the risk more effectively, and escalate with confidence. ICBC (ASIA) participation in the LCH Swapclear further extends the participation of Chinese banks, underlining the deepening of the commitment of Chinese institutions with global clearing infrastructure.
This development comes the same year as the signing of a Memorandum of Agreement (MOU) between the LCH and the Central Moneymarkets of the Moneymarkets Unit (CMU). The MOU aims to allow full polymer nets and guaranteed settlement of various CNH FX derivatives, thereby removing a significant obstacle to increased commercial activity, while investigating other coins based on market adoption and demand.