LCH, a multi-national clearing house controlled by the London Stock Exchange Group, today announced that the European Investment Bank (EIB) is the first supranational institution to become a clearing member at LCH SA’s RepoClear service. By joining the service, EIB is able to directly access €GCPlus, LCH’s tri-party basket repo clearing service.
Clearing €GCPlus enables members to increase their capital and operational efficiencies and better manage their euro cash liquidity, according to LCH.
In addition to clearing €GCPlus, EIB will be able to extend its access to LCH SA’s RepoClear service offering clearing for bond and repo trades across 13 European markets.
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“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,” Christophe Hémon, CEO at LCH SA, 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, Bertrand de Mazières, Director General, EIB, said.
LCH is a group of multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK and France and with offices in the United States and the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives. LCH also serves the non-cleared derivatives market through LCH SwapAgent, a new service which extends the efficiencies and infrastructure of clearing to the market, without acting as a central counterparty.