LCH.Clearnet says no suitors came calling

Following speculation that the InterContinental Exchange (ICE) tendered an offer for the London-based clearinghouse, LCH.Clearnet claims no deal was on the table after all. The firm, which is expected to launch potentially lucrative OTC interest rate swaps clearing by year-end, issued the following statement today:

“In response to recent media speculation LCH.Clearnet, the leading independent clearing house, would like to clarify that it has not received an approach of any sort in relation to its ownership.”

ICE, which is a leader in credit default swap clearing, would seem to be a likely player in the OTC interest rate market, particularly following CME Group's entry into the market about a month ago. ICE and CME Group already compete in a number of markets.

Although it wasn't specified in the statement, LCH.Clearnet was likely responding to the following piece in The Guardian:

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