A record number of European buyside firms cleared swap transactions through central counterparties in recent weeks, suggesting larger investors are declining to wait until the requirements become law late next year. Client clearing volumes on LCH.Clearnet, measured as a function of monthly trades registered, reached around 330,000 in June, the highest level on record and nearly double the volume seen at the same time last year. The number has risen by a third since April. "We have definitely seen an uplift in client clearing, reflecting the fact that more asset managers are now running trades through the clearing house ahead of the mandate," said Nathan Ondyak, head of products and markets at LCH.Clearnet.
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