London Clearing House. Recognised Clearing House (RCH) under the FSA, and is responsible for the clearing and settlement of derivative transactions effected on LIFFE, LME and IPE, and also securities transactions on Tradepoint.
London Clearing House. The LCH is a Recognised Clearing House under the Financial Services and Markets Act (2000). Its primary role is to act, in relation to its members, as central counterparty for contracts traded on LIFFE, the IPE and the LME. When LCH has registered a trade, it becomes the buyer to every LCH member who sells and the seller to every LCH member who buys, ensuring the financial performance of trades. To protect itself against the risks assumed as central counterparty, LCH establishes margin requirements. See Margining.