LCH and Clearstream join forces for new post-trade connection
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LCH and Clearstream join forces for new post-trade connection 18 January 2021UK Reporter: Maddie Saghir
Image: Zhao jiankang/adobe.stock.com
Global clearing house LCH has collaborated with Clearstream, Deutsche Boerse’s post trade services provider, to offer a broadened settlement proposition for French and Belgian government debt securities.
As from today, all French and Belgian government debt securities cleared by LCH SA’s RepoClear service are available for settlement through Clearstream Banking AG.
RepoClear members will now be able to settle Belgian and French Government bonds at Clearstream Banking Frankfurt, Spanish Government bonds at Euroclear France, and French and German Government bonds at Iberclear (BME).
According to Thilo Derenbach, head of European custody product at Clearstream, French and Belgian government debt remain in continued high demand.
“We are excited that we can offer a broadened settlement proposition for these two new domestic markets. With this development, Clearstream’s and LCH’s clients can take advantage of the operational benefits of bundling their settlement flows with us,” Derenbach explains.
Corentine Poilvet-Clediere, head of RepoClear, collateral and liquidity, LCH SA, says: “As an open-access clearinghouse, an important part of LCH’s role is to support our members’ settlement strategies whilst allowing them to benefit from RepoClear’s deep and diverse netting pool. We are delighted to continue to support our membership in expanding its choice in settlement venues.”
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Image: Zhao jiankang/adobe.stock.com 