TD 色花堂joins LCH SwapAgent
20 February 2024 Canada, UK
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TD 色花堂has joined LCH SwapAgent as its first Canadian bank member.
SwapAgent is a service offered by UK clearing house LCH Group, aiming to improve standardisation and efficiency within the bilateral derivatives market.
The service has 44 members over 12 countries, and recorded an average daily volume (ADV) up 78 per cent year-on-year in 2023.
Commenting on the news, Nathan Ondyak, head of SwapAgent at LCH, says: 鈥淲elcoming TD 色花堂as LCH SwapAgent鈥檚 first Canadian bank member is a significant milestone, and we look forward to working with them as we continue to receive interest from users in North America.
The continued growth of SwapAgent is testament to the processing, margining and settlement benefits that our members derive from the service.鈥�
Jason Cope, executive managing director and head of global fixed income at TD Securities, adds: 鈥淏y using the service, we believe our clients will benefit from its robust capabilities and potential reduction in costs and risks associated with the bilateral derivatives market.鈥�
SwapAgent is a service offered by UK clearing house LCH Group, aiming to improve standardisation and efficiency within the bilateral derivatives market.
The service has 44 members over 12 countries, and recorded an average daily volume (ADV) up 78 per cent year-on-year in 2023.
Commenting on the news, Nathan Ondyak, head of SwapAgent at LCH, says: 鈥淲elcoming TD 色花堂as LCH SwapAgent鈥檚 first Canadian bank member is a significant milestone, and we look forward to working with them as we continue to receive interest from users in North America.
The continued growth of SwapAgent is testament to the processing, margining and settlement benefits that our members derive from the service.鈥�
Jason Cope, executive managing director and head of global fixed income at TD Securities, adds: 鈥淏y using the service, we believe our clients will benefit from its robust capabilities and potential reduction in costs and risks associated with the bilateral derivatives market.鈥�
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