LCH RepoClear SA launches 鈧珿CPlus green basket
22 January 2024 France
Image: CYBERUSS/stock.adobe.com
LCH RepoClear SA, a London Stock Exchange Group-owned business, has launched its first general collateral triparty green basket.
The sustainable 鈧珿CPlus offering comprises EUR denominated investment grade bonds, aligned with the issuer-reported green bond reference data provided by Bloomberg.
According to the Paris-based clearing house, the net proceeds of eligible bonds will be used by the issuer to finance projects or activities that promote environmental-related activities, including climate change mitigation.
The basket expands on the firm鈥檚 existing triparty basket repo offering, following the merger of its two clearing services 鈥� 鈧珿CPlus liquidity and its 鈧�3.3 trillion RepoClear liquidity pool 鈥� in July 2023.
LCH SA continues to expand its 鈧珿CPlus product offering through the launch of additional baskets, including GovSSA basket (Governments, Supranational, Subnational and Agencies basket) and a basket comprising Italian government bonds.
Olivier Nin, interim head of RepoClear and collateral and liquidity management at LCH SA, says: 鈥淲e are proud to support our members鈥� sustainability objectives with the launch of the 鈧珿CPlus green basket.
鈥淭ogether with the additional baskets launched through our existing offering, we continue to adapt our products so that our members can benefit from further cross margin netting opportunities across their special and triparty general collateral activity in addition to a wider choice of liquidity pools.鈥�
Olivier Grimonpont, managing director, head of product management, market liquidity at Euroclear, adds: 鈥淲e are very pleased to have supported LCH RepoClear in their launch of a new green basket on EuroGCPlus.
鈥淚n our role as a financial market infrastructure, we work with the market to help advance important innovative solutions that will support growth and stability.鈥�
The sustainable 鈧珿CPlus offering comprises EUR denominated investment grade bonds, aligned with the issuer-reported green bond reference data provided by Bloomberg.
According to the Paris-based clearing house, the net proceeds of eligible bonds will be used by the issuer to finance projects or activities that promote environmental-related activities, including climate change mitigation.
The basket expands on the firm鈥檚 existing triparty basket repo offering, following the merger of its two clearing services 鈥� 鈧珿CPlus liquidity and its 鈧�3.3 trillion RepoClear liquidity pool 鈥� in July 2023.
LCH SA continues to expand its 鈧珿CPlus product offering through the launch of additional baskets, including GovSSA basket (Governments, Supranational, Subnational and Agencies basket) and a basket comprising Italian government bonds.
Olivier Nin, interim head of RepoClear and collateral and liquidity management at LCH SA, says: 鈥淲e are proud to support our members鈥� sustainability objectives with the launch of the 鈧珿CPlus green basket.
鈥淭ogether with the additional baskets launched through our existing offering, we continue to adapt our products so that our members can benefit from further cross margin netting opportunities across their special and triparty general collateral activity in addition to a wider choice of liquidity pools.鈥�
Olivier Grimonpont, managing director, head of product management, market liquidity at Euroclear, adds: 鈥淲e are very pleased to have supported LCH RepoClear in their launch of a new green basket on EuroGCPlus.
鈥淚n our role as a financial market infrastructure, we work with the market to help advance important innovative solutions that will support growth and stability.鈥�
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