LCH Ltd’s RepoClear welcomes Clearstream as its first clearing member from Luxembourg
- Clearstream is the first member from Luxembourg to clear Sterling debt at LCH Ltd
- First ICSD to become a member of RepoClear
- Benefits from accessing RepoClear’s large pool of cleared liquidity
LCH, a leading global clearing house, today announced that Clearstream Banking Luxembourg (Clearstream) is the first organisation from Luxembourg to become a clearing member at LCH Ltd’s RepoClear service. By joining the service, Clearstream is able to access the large UK pool of cleared debt at LCH. The International Central Securities Depository (ICSD) will also benefit from the liquidity and risk management efficiencies of central clearing.
LCH Ltd’s RepoClear service offers clearing for UK government bonds and repos. The service operates an open access model, connecting to multiple trading venues and (i)CSDs. This approach provides its clearing members with a choice of where to execute and settle its trades.
Bruce Kellaway, Global Head of Rates, Securities and Collateral, LCH, said: “I’m delighted to welcome Clearstream as the first clearing member from Luxembourg and first ICSD to access repo clearing at LCH Ltd. This is an important development in our international growth story. We look forward to continuing to support our international members in accessing the liquidity they require in the Sterling market.”
For further information
Rhiannon Davies / Christopher Loscher, Tel: +44 (0)20 7797 2122
LCH is a group of leading multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes. As demand for robust clearing services continues to grow, LCH is committed to maintaining the highest standards of risk management across all our services.
As the markets’ partner, LCH operates an open access model, offering a choice of execution venues, delivering unprecedented choice and efficiencies to the marketplace.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK and France and with offices in the United States and the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives. LCH also serves the non-cleared derivatives market through LCH SwapAgent, a service which extends the efficiencies and infrastructure of clearing to the market, without acting as a central counterparty.
LCH is majority owned by London Stock Exchange Group (LSE.L), an international markets infrastructure business that sits at the heart of the world's financial community.
Further information on LCH can be found at www.lch.com