
Appendix 2
Understanding London SPAN
T
he primary role of LCH is to act as central counterparty to trades
executed by its members:
䊏 In futures and options contracts on the London International
Financial Futures and Options Exchange (LIFFE), the London
Metal Exchange (LME) and the International Petroleum Exchange
(IPE)
䊏 In certain classes of over-the-counter (OTC) products, specifically
interbank interest rate swaps, repos and cash bonds
䊏 For equities traded on the London Stock Exchange’s SETS system
䊏 OTC energy swaps transacted on the Intercontinental Exchange
announced 29 August 2001
䊏 In 2000 LCH cleared approximately 224 million contracts traded
on ...