RepoClear SA

LCH’s France-registered cash bond and repo trade clearing service

Welcome to RepoClear SA

RepoClear SA is LCH’s market-leading government bond cash and repo clearing service. Established in 1999 as a clearing service for French government securities and repo trades, the service has since added the Italian and Spanish markets and, in 2017, the German and Belgian* markets.

We remain committed to building out our product suite with our market partners to ensure that  RepoClear SA continues to occupy its important role in European clearing.

Membership at RepoClear SA

Market participants can choose from three membership options at RepoClear SA. These range from direct membership at the clearing house – as an Agent member – to an indirect and intermediated relationship with RepoClear SA as a Sponsored member.

Individual Clearing Member (ICM) – A member authorized to clear their own business

General Clearing Member (GCM) – A member authorized to clear their own business and/or that of Associated Trading Members

Associated Trading Member (ATM) – A firm that trades on trading and matching platforms and has entered into a clearing agreement with a member

Government Bond Markets Cleared

France

 

Belgium*  
Germany  

Spain

 

Italy

Interoperable link operated for Italian government bond market segment between LCH SA and CC&G

* As of 28 November 2017

Our Trading Partners

RepoClear SA provides clearing services for cash bond and repo transactions traded bilaterally among financial institutions and executed on the following trading venues:

  • Trading Platforms: Euro-MTS, MTS-France, MTS Italy, ICAP (BrokerTec) and TP Repo
  • Trade Matching: ETCMS – Euroclear Trade Capture and Matching System (Euroclear’s matching system), Viel/Tradition

These transactions are processed by RepoClear SA and are settled by:

  • Euroclear France for French, German and Belgian* debts
  • Monte Titoli for Italian debt
  • Iberclear for Spanish debt
  • Clearstream Banking (Frankfurt) for German debt
  • Banque Nationale de Belgique for the Belgian debt*

LCH SA and Cassa di Compensazione e Garanzia S.p.A. (CC&G) have an agreement under which LCH SA and CC&G provide clearing services for Italian government bond transactions executed on the MTS S.p.A. and BrokerTec platform and settled in Monte Titoli.

* As of 28 November 2017

RepoClear SA - What We Clear

Cash bonds and repo products eligible for clearing at RepoClear

RepoClear SA - Risk Management

RepoClear has a robust and proven risk and default management framework

RepoClear SA - Fees

Prices to clear your trades with RepoClear

RepoClear SA - Volumes

Total Yearly Nominal in €bn

RepoClear SA - Essentials

Everything you need to know about clearing at RepoClear

RepoClear SA - Team

Questions about RepoClear? Don’t hesitate to get in touch