- Mizuho Bank Ltd joins SwapAgent as latest member, and processes first cross-currency swap through service.
- $17 trillion in notional was registered at SwapAgent by quarter end Q2 2024, up 68% on Q2 2023.
- 47 dealer entities from 15 countries now live at SwapAgent.
LCH Group, an LSEG business, today announces that Mizuho Bank Ltd has joined SwapAgent as a member and has processed its first cross-currency swap through the service. Mizuho Bank Ltd is now able to benefit from SwapAgent’s offering including centralised trade processing and optimisation.
Nathan Ondyak, Head of SwapAgent, LCH, said: “We are delighted to welcome Mizuho Bank Ltd as our latest member. As financial institutions across Asia and Japan increasingly seek to benefit more from robust risk management and capital efficiencies, we remain committed to offering our members the processing, margining and settlement benefits that SwapAgent brings.”
Kenichiro Kobayashi, Head of Europe Treasury Department, Operating Officer, Mizuho Bank, said: “Joining SwapAgent as a member is crucial for us to be able to offer our own clients an enhanced service that improves standardisation and efficiency in the cross-currency swap market, as well as reduces operational and credit risk. We look forward to unlocking these capabilities through SwapAgent.”
SwapAgent offers solutions designed to materially improve standardisation, efficiency and simplicity in the non-cleared derivatives market. There are now 47 dealer entities from 15 countries live at SwapAgent. $17 trillion in notional has been registered at SwapAgent since it launched in 2017.
Learn more about LCH SwapAgent here: SwapAgent | LCH Group
View a Japanese version of this press release here.
