The Royal Bank of Canada (RBC) has joined LCH’s credit default swap clearing service, CDSClear.
The platform clears a variety of credit default swap (CDS) products globally, and reported record volumes in US and European indices in the first three months of 2025. Notional cleared volumes were up 332% year-on-year to US$1 trillion for CDX and iTraxx indices, and rose 52% to €1.58 trillion in European iTraxx indices.
LSEG states that joining LCH CDSClear will provide RBC’s CDS portfolio with margin and operational efficiencies.
RBC is the first Canadian clearing member on the service, joining American firms including Morgan Stanley and JP Morgan and European banks such as Credit Suisse and Banco Santander.
Marcus Robinson, head of CDSClear and Digital AssetClear at LCH, commented: “We are committed to increasing the level of choice market participants have in CDS clearing and are proud to offer RBC access to our broad range of CDS products and access to trade with members and clients across the globe.”
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