| 单词 | London Clearing House |
| 释义 | London Clearing House = LCH A clearing house established in 1888 (known before 1991 as the International Commodities Clearing House and originally as the London Produce Clearing House). LCH is an independent body, owned by six major UK commercial banks. It provides futures and options markets with netting and settlement services as well as becoming a counterparty (see counterparty risk) to every transaction between its members. In this capacity LCH takes the risk of its members defaulting, which it covers by collecting margins from members; it also provides an independent guarantee of £200 million from its shareholders and from the insurance market. Exchanges making use of LCH facilities include the London International Financial Futures and Options Exchange, the London Metal Exchange, the International Petroleum Exchange, and Tradepoint Investment Exchange. |
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