Video Interview with Roger Liddell, CEO of LCH.Clearnet, Regarding Mechanics of OTC Derivatives Clearing and Implications for Hedge Funds

The Hedge Fund Law Report recently interviewed Roger Liddell, CEO of LCH.Clearnet, one of the largest independent clearinghouses.  Our interview focused on the mechanics and goals of clearing, especially as it relates to over-the-counter derivatives, and the relationship between clearinghouses and hedge funds, either as derivatives market participants or clearinghouse members.  (One important point from the interview is that broker-dealers and futures commission merchants generally are more natural fits for clearinghouse membership than most hedge funds.)  A video recording of the interview is available in this issue of the Hedge Fund Law Report, and we would like to thank the following attorneys for providing insight, context and derivatives expertise that informed the questions in this interview: Leigh Fraser, Partner at Ropes & Gray, LLP; Marilyn Selby Okoshi, Partner at Katten Muchin Rosenman LLP; Richard Chen, Counsel at Arnold & Porter LLP; and Fabien Carruzzo, Associate at Kramer Levin Naftalis & Frankel LLP.

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