ICCH guarantee up
International Commodities Clearing House Limited has announced that its guarantee has been increased from £lOO million to £ISOM. ICCH is owned by six large British-based international banks — Barclays Bank, Lloyds Bank, Midland Bank, National Westminster Bank, Standard Chartered Bank and The Royal Bank of Scotland. It clears and guarantees
futures and options' contracts traded on exchanges in New Zealand, Australia and Britain. ICCH guarantees to its members due fulfilment of each contract registered with ICCH and traded on one of its client exchanges. As such, the guarantee facilitates free trading between ICCH’s members and removes manny of the concerns relating to coun-ter-party risks.
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Press, 16 May 1989, Page 26
Word Count
106ICCH guarantee up Press, 16 May 1989, Page 26
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