Global clearing house LCH announced that European Investment Bank (EIB) is the first supranational institution to join LCH SA’s RepoClear service as a clearing member. EIB will now be able to directly access LCH’s tri-party basket repo clearing service €GCPlus.
Clearing €GCPlus allows its members to enlarge and advance their capital and operational efficiencie, as well as better manage their euro cash liquidity. EIB will not only be clearing €GCPlus but will also be able to extend its access to LCH SA’s RepoClear service offering clearing for bond and repo trades across 13 European markets.
Welcoming the European Invesment Bank as a direct member of LCH SA is a significant moment for us and the fixed income market as a whole. EIB will act as an important liquidity provider for our service and we look forward to continuing to work with them as we grow our relationship.
Bertrand de Mazières, Director General, EIB, said:
Increasing financial stability and ensuring sustainability is at the core concerns of EIB’s Finance Directorate. Liquidity risk resilience is an integral element to this. As a result, we’re pleased to have become a member of LCH SA to ensure access and participation in this key area of the fixed income and repo market.
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