The trades, denominated in Swiss francs and euro, respectively, were processed through MarkitSERV.
Launched last month, SwapAgent is the latest release from LCH, introducing a new version of client account within its SwapClear service.
It was designed to introduce new efficiencies for the non-cleared derivatives market and to standardise and streamline over-the-counter market infrastructure.
There are already plans to expand the offering to include cross-currency swaps in Q4 2017.
Citi and Deutsche Bank were among 14 dealers that confirmed their support for LCH SwapAgent shortly after its release.
Others include Bank of America Merrill Lynch, Barclays, BNP Paribas, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Nomura and RBS.
Nathan Ondyak, global head of LCH SwapAgent, said: “We are pleased that LCH SwapAgent is now live. We have received significant support from the market for the new service and are delighted that Citi and Deutsche Bank have completed the first trades.”
Stuart Bancroft, managing director of credit valuation adjustment trading at Citi, said: “As the non-cleared market for interest rate derivatives becomes increasingly complex, we welcome innovative solutions like LCH SwapAgent that help simplify the bilateral margining process, while enabling market participants to comply with the uncleared margin rules."