LCH, the clearing house majority-owned by the London Stock Exchange Group, has announced plans to extend its clearing infrastructure to non-cleared trades, in a move to help market participants save money amid new rules forcing them to exchange collateral on over-the-counter derivatives deals.

The radical move, announced on November 2, will see LCH's new SwapAgent service become available to market participants as they adjust to new global margin rules that to applied to the biggest banks from September 2016, with the next phase to capture a wider range of counterparties in March 2017.