By Simon Miller

LCH.Clearnet is aiming to buy the International Derivatives Clearing Group (IDCG), the company announced today (24.04.2012).

The clearing house has signed non-binding heads of agreement with IDCG and the NASDAQ OMX Group regarding the acquisition of IDCG.

LCH.Clearnet said the transaction represented its latest move to "further enhance the range and flexibility of its clearing solutions".

The company already operates interest rate swap clearing in the US through SwapClear which has already cleared a total client notional of more than $686bn and LCH.Clearnet says the purchase as a natural expansion of its services.

“LCH.Clearnet Group is committed to providing end-users with a broad range of clearing services for their over-the-counter trades. This strategic acquisition would complement our US offering, where we are seeing accelerating client take-up for the SwapClear service,” said Michael Davie, chief executive of SwapClear.

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