Standard Chartered has partnered with IndusInd Bank to clear its first NDF client transaction at LCH ForexClear. The transaction marks a first for IndusInd Bank clearing OTC FX at LCH ForexClear. Standard Chartered provides international banking services across core emerging markets including in Asia, Africa, and the Middle East. IndusInd Bank provides retail and corporate banking services across India. LCH has continued to see strong growth of its FX client clearing services, with Standard Chartered the latest organisation to provide its customers with access to the clearing benefits and enhanced risk management services available through ForexClear. There are now 20 entities providing client clearing support at ForexClear, a 67% increase from 2021. IndusInd Bank is the second Indian bank to clear at ForexClear. James Pearson, Head of ForexClear, LCH, said: “We continue to see a growing number of firms from APAC choosing to clear through ForexClear and benefit from the margin, capital and operational efficiencies our services provide. We are pleased to be able to offer a diverse set of products to our customers in the APAC region, unlocking further liquidity in the cleared FX market.”
