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First transactions cleared on GC clearing service
30 June 2014
First tri-party repo trades on €GCPlus mark important step forwards for fixed income clearing members, according to LCH.Clearnet’s CEO
LCH.Clearnet's new general collateral (GC) clearing service for
tri-party repo has cleared its first transactions.
The €GCPlus service launched in collaboration with
Euroclear and the Banque de France, enables fixed income
trading desks, treasurers and other market participants to
efficiently manage collateral that is eligible to use at the
European Central Bank.
Christophe Hémon, CEO of LCH.Clearnet, said: "These
first €GCPlus-cleared trades represent an important step
forward for fixed income clearing members. Participants now
have access to a large set of liquidity providers using
Euroclear collateral management tools which significantly
increases efficiencies for the capital markets.
"We would like to thank all those involved for their commitment
and collaboration in bringing this vital service to the
The service is designed to help participants generate liquidity
in a cleared environment while benefitting from balance sheet
netting and capital efficiencies.