LCH (originally London Clearing House) is a financial market infrastructure company headquartered in London that provides clearing services to major international exchanges and to a range of OTC markets. The LCH Group includes two main entities: LCH Limited based in London and LCH SA based in Paris (formally Banque Centrale de Compensation SA, also known from 1999 to 2003 as Clearnet then until 2016 as LCH.Clearnet).

As of 2012,^[update] LCH cleared approximately 50% of the global interest rate swap market, and was the second largest clearer of bonds and repos in the world, providing services across 13 government debt markets. In addition, LCH clears a broad range of asset classes including: commodities, securities, exchange traded derivatives, credit default swaps, energy contracts, freight derivatives, interest rate swaps, foreign exchange and Euro and Sterling denominated bonds and repos.

LCH's members comprise many of the major global financial institutions including almost all of the major investment banks, broker dealers and international commodity houses. LCH, being a clearing house, sits in the middle of a trade – assuming the counterparty risk involved when two parties trade and guaranteeing the settlement of the trade. To mitigate the risks involved it imposes certain minimum requirements on its members and collects initial and variation margin (or collateral) from them for trades that have been executed.

LCH traces its roots back to the London Produce Clearing House, established in 1888, and the Paris-based Clearnet, established in 1969. Both developed from clearing commodity transactions. They merged in 2003 to form LCH.Clearnet. In 2013, the London Stock Exchange Group acquired a majority stake in the business. In 2016 LCH.Clearnet dropped Clearnet from its branding name.

LCH provides clearing or central counterparty services in the following markets:

LCH provides clearing and settlement services for both the exchange-traded and the OTC commodity markets. LCH clears commodities including non-ferrous metals (100 million metal trades are cleared annually), plastics and steel which are exchange traded on the London Metal Exchange, as well as a broad range of futures and options contracts covering soft and agricultural products. It also clears over-the-counter products including gold, coal, steel and iron ore and fertilizer swaps.

The international CDSClear service provides full straight-through processing (STP) multilateral clearing, reduced counterparty risk and post-trade anonymity and encompasses the core requirements as determined by key industry and policy groups, including ISDA, CESR, the ECB and the European Commission.

LCH is the largest a user-owned and user-governed global supplier of clearing services to the derivatives markets. This is either directly to the user community or by operating the clearing process on behalf of a third party via an insourcing arrangement, providing services to clients for Short Term Interest Rates (STIRs), Indexes and Equity derivatives. This includes credit derivatives.