Clearstream Becomes LCH RepoClear's First Clearing Member from Luxembourg

LCH, a leading global clearing house, announced on Wednesday that post-trade services provider Clearstream Banking (Clearstream) is the first organisation from Luxembourg to become a clearing member at LCH Ltd's RepoClear service.

By joining the service, Clearstream is able to access the large UK pool of cleared debt at LCH. The International Central Securities Depository (ICSD) will also benefit from the liquidity and risk management efficiencies of central clearing.

LCH Ltd's RepoClear service offers clearing for UK government bonds and repos. The service operates an open access model, connecting to multiple trading venues and ICSDs. This approach provides its clearing members with a choice of where to execute and settle its trades. 

Bruce Kellaway, Global Head of Rates, Securities and Collateral, LCH, said: "I'm delighted to welcome Clearstream as the first clearing member from Luxembourg and first ICSD to access repo clearing at LCH Ltd. This is an important development in our international growth story. We look forward to continuing to support our  international members in accessing the liquidity  they require in the Sterling market."