SINGAPORE - Media OutReach - 21 September 2021 – Rohit Verma, Head of Asia Pacific, LCH, said: “Taiwan is an important financial hub for the derivatives market and we are delighted to welcome CTBC Bank to the ForexClear service. With new uncleared margin rules phases coming in, firms are looking to optimise their derivatives portfolios through clearing at LCH. Phase 5 of the uncleared margin rules was implemented in September and firms are already preparing for Phase 6, coming into effect September 2022.”
Joe Chen, Head of Global Trading, CTBC Bank, said: “CTBC Bank has strong history of innovation and we are pleased to be the first Taiwan bank to become a client at ForexClear. Clearing at LCH allows us to efficiently manage our risk while benefitting from multilateral netting and a more streamlined derivatives portfolio.”
Victor Gusak, Head of APAC Execution & Clearing, UBS AG, said: “This go live is a significant milestone for both the Taiwan market and UBS’s global clearing franchise. We pride ourselves on being a trusted partner for our clients and we look forward to continuing to supporting CTBC Bank and the wider market in accessing clearing.”
LinkedIn: https://www.linkedin.com/company/lch-clearnet/
Twitter: @LCH_Clearing (https://twitter.com/LCH_Clearing)
#LCH
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