TD Securities is now live as a LCH SwapAgent member, the first Canadian bank member, bringing membership up to 44 from across 12 countries.
The network reportedly registered more than US$5.9 trillion in notional at LCH SwapAgent in 2023, with an average daily volume (ADV) up 78% year-on-year.
Nathan Ondyak, head of SwapAgent, LCH, said, “Welcoming TD Securities as LCH SwapAgent’s 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.”
Jason Cope, executive managing director and head of global fixed income, TD Securities, said: “We are delighted to be the first Canadian bank member of LCH SwapAgent. By 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.”
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