RepoClear Ltd

LCH’s UK cash bond and repo trade - clearing service

Your Clearing Options

RepoClear is LCH’s UK-based clearing service for European repo and cash bond trades. 

The service was established in partnership with leading banks in 1999, creating a multimarket, centralised clearing and netting service for European repo and cash bond trades.  

Monthly average volume is now around €13 trillion, with clearing available for eligible repo and cash bond trades referencing:

  1. Bonds issued by 11 different European governments: Austria, Belgium, Netherlands, Germany, Ireland, Finland, Portugal, Slovakia, Slovenia, Spain and UK.
  2. Selected supranational, regional, agency and other government-guaranteed bonds.

Sponsored Clearing extends the benefits of direct CCP membership to the buy-side community. By inviting member banks to sponsor buy-side direct access to the CCP, LCH provides an innovative way to enhance existing clearing relationships, while generating operational efficiencies for all participants.

Click here for more information on Sponsored Clearing

Our Products

RepoClear Ltd offers clearing services in a wide range of government bonds and other debt securities.

Additional products cleared include classic fixed rate repos with settlements ranging from the same day to up to one year. 

Our offering includes the clearing of eleven European government bond markets: Austria, Belgium, Netherlands, Germany, Ireland, Finland, Portugal, Slovakia, Slovenia, Spain and UK. In addition to € and $ Supranationals, Agencies and Sovereigns, German Jumbo Pfandbriefe.

 

Membership at RepoClear Ltd

Market participants can choose between being a RepoClear Member, a RepoClear Dealer or a Sponsored Member.

 

RepoClear Member

A RepoClear Member is an entity approved by LCH to clear transactions which it or one of its RepoClear Dealers has executed.

 

RepoClear Dealer

A RepoClear Dealer is an entity approved by LCH to clear transactions it has executed, using an approved RepoClear Member.

 

Sponsored Member

Sponsored Members join under a new membership category that allows buy-side firms to enjoy the full benefits of clearing through LCH. This creates a direct transactional relationship between LCH and the Sponsored Member, making LCH the counterparty to each cleared trade. Sponsored Members are supported by an Agent Member (sponsoring bank) that facilitates margin payments (as paying agent) and provides default fund contributions for each sponsored transaction.

RepoClear LTD - What We Clear

Cash bonds and repo products eligible for clearing

RepoClear LTD - Risk Management

A proven risk management framework

RepoClear LTD - Fees

The cost of clearing at RepoClear LTD

RepoClear LTD - Volumes

Clearing activity across the service

RepoClear LTD - Essentials

Discover the first steps to getting started at RepoClear Ltd

RepoClear LTD - Team

We're here to answer any questions that you have