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LCH.Clearnet leverages SWIFT for standardised margin call messages
LCH.Clearnet Ltd, the global clearing house, announced that it will be using SWIFT to notify clearing members of margin calls. Under the new process, LCH.Clearnet’s members will receive margin call notifications faster and in a standardised format, increasing operational efficiency and straight through processing (STP). The service was developed in collaboration with SWIFT and the global ISO Standards Evaluation Group and will also be available to members of LCH.Clearnet LLC. LCH.Clearnet already uses SWIFT to send and receive collateral messages with its members. Firms will be able to sign up to the extended ... (full story)