OTCDerivNet Limited is a limited liability company equally owned by Bank of America, Barclays, Citibank/ Schroder Salomon Smith Barney, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, Merrill Lynch and Société Générale.

The company has been set up to partner with LCH in the development of a secure, efficient and cost-effective, post-trade dated environment for the benefit of the OTC derivative industry.

OTCDerivNet Limited will provide strategic direction and funding for the development of LCH SwapClear and will work with LCH to extend the existing range of clearable OTC derivative transactions and promote broad market participation.