LCH Adds BNZ as Clearing Member
Clearinghouse adds first New Zealand member amid other developments in Asia-Pacific
Known as BNZ, the bank has cleared its first trade as a direct clearing member. The clearinghouse, majority-owned by the London Stock Exchange Group, counts over 100 members of its clearing service, and clears around 95 percent of vanilla interest-rate swaps.
“Being the first New Zealand member of SwapClear links well with our strategy as a leading [New Zealand dollar] swap market-maker to provide increased liquidity and improved execution for our fixed-income clients,” said Graeme Liddell
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