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Swap clearing soars in 2012
THE number of interest rate swaps being cleared centrally has surged ahead of regulatory changes.
LCH.Clearnet reports that buy-side volumes on its SwapClear service are up 175 per cent so far in 2012 on a year-on-year basis.
The move to central clearing of interest rate swaps comes ahead of the US’s Dodd-Frank mandate, due to be implemented this year.