First transactions cleared on GC clearing service
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 market."
The service is designed to help participants generate liquidity in a cleared environment while benefitting from balance sheet netting and capital efficiencies.
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