RepoClear

RepoClear is a market leading service clearing cash bond and repo trades across a number of European markets. 

Established in partnership with leading market makers in 1999 in, it was the first multi market centralised clearing and netting facility for the European government repo and cash bond (outright) markets.  Today monthly volumes average c €10 billion and ReoClear clears  cash bond and repo trades in the following markets: Austrian, Belgian, Dutch, German, Irish, Finnish, Portugese and UK government bonds.  Additional markets served include: German Jumbo Pfandbriefe and Supranationals, Agency and Sovereign. RepoClear accepts the following types of specific bond repo trades: classic fixed rate repos with 1st leg settlement on a same day and forward start basis with a term not greater than one year.

Recently, LCH.Clearnet launched two new innovative initiatives Sterling GC and €GC, both are based on the clearing, netting and settlement of cash-led repo trades in standardised ranges of liquid bond baskets.  The baskets are determined either by bond type or credit rating of issuer and  tradable anonymously on electronic trading platforms or bilaterally via voice brokers or inter-office.  This enables users to benefit from the efficiencies of a standard process for addressing funding needs, the ability to move collateral quickly easily and with minimal manual intervention and from the cost benefits of maximised settlement netting opportunities.