Royal Bank of Canada Becomes First Canadian Clearing Member of LCH CDSClear

Royal Bank of Canada Becomes First Canadian Clearing Member of LCH CDSClear

(IN BRIEF) The Royal Bank of Canada (RBC) has joined LCH CDSClear as its first Canadian clearing member, gaining access to the platform’s broad range of credit derivative products. This move enhances RBC’s risk management capabilities while enabling the bank to participate in the growing CDS liquidity pool. LCH CDSClear has seen record growth, clearing a total of US$1 trillion in CDX™ and iTraxx® indices in Q1 2025.

(PRESS RELEASE) LONDON, 29-May-2025 — /EuropaWire/ — LSEG is pleased to announce that the Royal Bank of Canada (RBC) has become the first Canadian clearing member to join LCH CDSClear, a significant milestone that highlights the continued global expansion of LCH CDSClear. This new membership gives RBC access to the widest range of credit products eligible for clearing, enhancing margin and operational efficiencies across its CDS portfolio.

As a market maker in both European and US indices, RBC’s membership enables the bank to tap into the growing pool of CDS liquidity offered by LCH CDSClear. The platform has experienced substantial growth this year, setting record clearing volumes for US$ and EUR indices in Q1 2025. LCH CDSClear cleared a record US$1 trillion in CDX™ and iTraxx® indices notional in Q1 2025, marking a 332% increase compared to the same period in 2024. Additionally, €1.58 trillion of European iTraxx® indices notional was cleared, a 52% increase from Q1 2024.

Marcus Robinson, Head of CDSClear and DigitalAssetClear at LCH, said: “We are excited to welcome RBC as our first Canadian clearing member. RBC’s participation reinforces our commitment to offering greater choice and flexibility for market participants in CDS clearing. We are proud to provide RBC with access to our comprehensive range of CDS products and connect them with members and clients worldwide.”

Santosh Sateesh, Managing Director and Global Head of Credit Derivatives Trading at RBC, added: “Joining LCH CDSClear marks an important step in our strategy to enhance risk management efficiencies and provide our clients with access to a broad suite of credit derivative products. We are excited to be part of the growing CDSClear service and look forward to leveraging the platform’s capabilities to better serve our global clients.”

In recent years, LCH CDSClear has significantly expanded its product offerings, including the addition of Asian and Emerging Market indices, Sovereign Single Names, and clearing for iTraxx Australia indices and their constituent Single Names. LCH CDSClear also extended its client clearing services to US credit derivatives market participants in 2024.

About LCH

LCH builds strong relationships with credit, digital asset derivatives, equity, fixed income, foreign exchange (FX) and rates market participants to help drive innovative performance and deliver best-in-class risk management.

As a clearing member or client, partnering with us helps you increase capital and operational efficiency, while navigating an expanding and complex set of cross-border regulations, thanks to our experience and expertise.

In partnership with our stakeholders, we have helped the market transition to central clearing and continue to introduce innovative enhancements. Choose from a variety of solutions such as compression; sponsored clearing; credit index options clearing; contracts for differences clearing; and digital asset derivatives clearing. Our focus on innovation and our uncompromising commitment to service delivery makes LCH, an LSEG business, the natural choice of some of the world’s leading market participants globally.

About LSEG

LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.

With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.

LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.

LSEG’s ticker symbol is LSEG.

Media Contact:

Press Office
Harriet Leatherbarrow
Tel: +44 (0)20 7797 1000
Email: newsroom@lseg.com
Website: www.lseg.com

SOURCE: LSEG