Securities Finance Industry News | LCH SA RepoClear extends its settlement network to CBF and Euroclear Nederland

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LCH SA RepoClear has expanded the settlement connections it offers to CSD investors with the addition of links to support fixed income settlement at Euroclear Nederland and Clearstream Banking Frankfurt (CBF).

From today, this will allow clearing members of SA RepoClear to settle Dutch government bonds through Euroclear Nederland and Austrian and Spanish government bonds through Clearstream Banking Frankfurt.

Corentine Poilvet-Clediere, Group Head and Head of RepoClear, Collateral and Liquidity at LCH SA said: “Openness and customer choice remain at the heart of our strategy and our values ​​as a clearing house.

“As such, the role of LCH SA is to support our members’ settlement strategies while enabling them to benefit from RepoClear’s deep and diverse clearing pool. [This enables us] continue to serve our members by expanding their choice of settlement locations.

Thilo Derenbach, Head of European Custody Products at Clearstream, comments: “We have seen strong demand for Clearstream and LCH’s joint service for Belgian and French government bonds launched last year.

“Investors appreciate the combination of central clearing and settlement, which enhances the safety and efficiency of European debt transactions. Clearstream [broadens] this proposal as part of its extensive international network, strengthening connections between key players in the European T2S landscape for the benefit of our customers and the industry.

Olivier Grimonpont, Global Head of Product Management and Market Liquidity at Euroclear, said: “With a wide range of European debt markets already cleared by LCH SA and settled in Euroclear, we [are adding] the Dutch government bond market to this offer. Reaching this milestone is another step in our European access strategy to help participants have a centralized pool of assets.

This expands the full list of settlement venues for LCH SA Repoclear, which also includes National Bank of Belgium (for Belgian debt), Clearstream Banking Frankfurt (for French, Belgian and German debt), Clearstream Banking Luxembourg (for German, Austrian, Dutch, Finnish, Irish, Portuguese, Slovak, Slovenian and supranationals), Euroclear France (for French, Belgian, German and Spanish debt), Euroclear Bank (for German, Austrian, Dutch, Finnish, Irish, Portuguese, Slovak, Slovenian and supranationals), Iberclear (for French, German and Spanish debt) and Monte Titoli (Italian debt).

Additionally, LCH SA and Cassi di Compensazione e Garanzia (CC&G) have entered into an agreement whereby the two clearing houses provide clearing services for Italian government bonds executed on MTS and BrokerTec and settled in Monte Titoli.

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