LCH.Clearnet, the clearing house majority owned by the London Stock Exchange, has taken the next step in its preparation for US swaps reforms with the introduction of FX derivatives clearing for the buyside.

The firm's ForexClear service, which previously cleared dealer-to-dealer trades only, is now available for guaranteeing buyside transactions in non-deliverable forwards - cash-settled contracts that typically offer exposure to emerging market currencies - with more FX products planned for next year.