SwapClear offers one of the broadest ranges of OTC interest rate swap products in the marketplace, covering 95% of the plain vanilla market, and we are continuously adding to our offering. Below is a quick reference guide to the swap products we currently clear.

To cross reference our products with those subject to mandatory clearing in the U.S. by the CFTC, view the key at the bottom of the chart or use our Mandatory Clearing Checker.

IRS / ZC (Zero Coupon) / Basis Swap

irs info

Forward Rate Agreement

fra info

Overnight Index Swaps

ois info

Variable Notional Swaps

vns info

Basis Overnight/IBOR

IBOR info

Inflation ZCIIS

ZCIIS info

In addition to the currencies, indexes and maturities listed above, below are the trade characteristics eligible for clearing by SwapClear for each class of swap.

In addition to the currencies, indexes and maturities listed above, below are the trade characteristics eligible for clearing by SwapClear for Forward Rate Agreements.

In addition to the currencies, indexes and maturities listed above, below are the trade characteristics eligible for clearing by SwapClear for Overnight Index Swaps.

In addition to the currencies, indexes and maturities listed above, below are the trade characteristics eligible for clearing by SwapClear for Variable Notional Swaps.

In addition to the currencies, indexes and maturities listed above, below are the trade characteristics eligible for clearing by SwapClear for Variable Notional Swaps.

IRS

All relevant day count fractions

Backloading

Front and/or Back Stub

Compounding (Flat or Straight)

Constant Notional

Fixed-Float

Forward Starting

Initial Fixing Rate

Many reset & payment frequency option

Negative float & fixed rates

Non-standard Maturities

Single Currency

Spread on floating leg

Up to 6 additional payments

ZC

All relevant day count fractions

Backloading

Compounding (Flat or Straight)

Constant Notional

Fixed-Float

Forward Starting

Front or Back Stubs

Initial Fixing Rate

Many reset & payment frequency option

Negative float & fixed rates

Non-standard Maturities

Single Currency

Spread on floating leg

Up to 6 additional payments

ZC on fixed leg, floating leg or both legs

Basis

All relevant day count fractions

Backloading

Basis across indices and/or tenors

Front and/or Back Stub

Compounding (Flat or Straight)

Constant Notional

Float-Float

Forward Starting

Initial Fixing Rate

Many reset & payment frequency option

Negative float & fixed rates

Non-standard Maturities

Single Currency

Spread on float leg(s)

Up to 6 additional payments

FRA

ISDA 2006

Negative float & fixed rates

Non-standard Maturities

Single Currency

OIS

All relevant day count fractions

Backloading

Constant Notional

Daily Compounding

Fixed-Float

Forward Starting

Front or Back Stubs

Negative float & fixed rates

Non-standard Maturities

Single Currency

Up to 6 additional payments

Yearly or ZC payment frequency

VNS

All relevant day count fractions

Backloading

Compounding (Flat or Straight)

Fixed-Float

Forward Starting

Front or Back Stubs

Initial Fixing Rate

Many reset & payment frequency option

Negative float & fixed rates

Non-standard Maturities

Single Currency

Spread on floating leg

Up to 6 additional payments

Variable Notional and/or Spread and/or Fixed Rate

ZCIIS

Additional Payment

Backloading

Compounding on Fixed Leg (Annual)

Constant Notional

Modified Following Business Day Convention

Negative Fixed rate

Non-standard fixing index interpolation method

Non-Standard Inflation Index Lags

Single Currency

Spot Starting

SwapClear does not accept for clearing swaps with combinations of the characteristics noted below:

  • Variable Notional OIS Swaps
  • Swaps with an embedded option
  • Dual-currency swaps
  • Swaps with undetermined future notionals

Disclaimer
Please note that the product information contained on this page is provided for informational purposes only. It is qualified in its entirety by reference to LCH’s Rulebook and cannot be relied upon as a substitute for the regulations and procedures of LCH relating to products that are eligible for clearing. Please also note that the product information contained on this page does not constitute legal or investment advice or an offer to buy or sell, or a recommendation with respect to, any applicable financial instruments or securities.