LCH compresses US$1 quadrillion of cleared trades

摘要

Clearing house SwapClear has reached the milestone of US$1 quadrillion of compressed interest rate swaps, removing a huge chunk of notional outstanding from the derivatives market. The LCH-owned clearing house said that it had compressed 8.4m contracts on the platform since 2008. Equivalent to one thousand trillion, or one followed by 15 zeros, US$1 quadrillion is estimated to be sufficient to buy all 6.7bn people who live on planet earth an average American home. A quadrillion dollars represents 13 years of global GDP or five times the value of everything in the US.