LCH SA goes live with repo clearing of Belgian debt

Another news today from LCH, as the company announced that it has extended its RepoClear service in LCH SA, its continental Europe-based entity. The Paris-based clearing house is now offering clearing for cash and repo trades on Belgian government bonds. Belfius Bank and KBC Bank were among the first members to clear the new product at LCH SA.

  • Greater choice and more netting opportunities for RepoClear’s members
  • Members of LCH SA can offset trades on Belgian debt with eligible European repo transactions cleared at LCH SA, through T2S
  • Belfius Bank and KBC Bank among the first counterparties to clear Belgian repo transactions at LCH SA
  • LCH Ltd continues to offer clearing of Belgian debt

Belgian government debt is being cleared in addition to the existing LCH SA RepoClear service on German, Italian, French and Spanish government securities. Members have the opportunity to leverage T2S to obtain greater netting and settlement efficiencies and choice as to where to clear their trades. Belgian government debt will continue to be cleared through LCH Ltd, the Group’s UK entity.

Christophe Hémon, CEO, LCH SA, commented:

We are delighted to expand our RepoClear service to make Belgian debt available for clearing in LCH SA. We’re committed to providing our members with choice and ensuring that they are able to realise the maximum benefits of clearing. T2S provides the market with a great opportunity for improved efficiency, and this initiative ties in well with the aims of that project.

Jeffrey Van Impe, Head of Repo, Belfius Bank, added:

Having a choice of clearing venues is important to us, and we are pleased that LCH SA has extended its clearing offering for European government debt. We believe T2S and similar initiatives will play an important role in improving netting and efficiencies in the European bond market, and we look forward to making the most of this new service at LCH.

Read Also: