LCH.Clearnet, the Anglo-French clearinghouse, is aiming to launch full clearing for credit default swap contracts globally in the first half of 2012, as the world’s largest OTC clearer posted a 16% rise in underlying revenues for 2011 and gears up to expands its swaps clearing franchise to meet global regulatory mandates.

Announcing the firm's 2011 results this morning, which saw underlying net revenues rise to €387m, chief executive Ian Axe said he was confident the firm's rationalisation drive and increased focus on OTC clearing was beginning to bear fruit.