Â鶹´«Ã½

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
Â鶹´«Ã½
Leading the Way

Global Â鶹´«Ã½ Finance News and Commentary
≔ Menu
Â鶹´«Ã½
Leading the Way

Global Â鶹´«Ã½ Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Repo news
  3. RepoClear cleared nominal hits new Q1 highs at Ltd and SA
Repo news

RepoClear cleared nominal hits new Q1 highs at Ltd and SA


08 April 2022 UK, France
Reporter: Bob Currie

Generic business image for news article
Image: AdobeStock/Alex Stemmers
Combined activity across RepoClear’s Paris and London operations reached a record €67.47 trillion in cleared nominal for Q1 2022, across 2.9 million trade sides cleared.

This represented a new record for both RepoClear SA and RepoClear Ltd.

At RepoClear SA, the Paris-based repo and cash bond clearing service, cleared nominal rose 16 per cent YoY for Q1 to €53.77 trillion. This corresponded with 2.6 million trade sides cleared, a 25 per cent increase on Q1 2021.

For RepoClear Ltd, cleared nominal rose 49 per cent YoY to €13.70 trillion for Q1, across 346,600 trade sides (up 41 per cent on Q1 2021).

In April, LCH SA reported that Commonwealth Bank of Australia had become its first Australian clearing member.

On 25 March, LCH confirmed, following a statement from the European Commission, that equivalence for LCH Limited and other UK central counterparties will be extended beyond 30 June 2022 and will remain for at least three further years, until 30 June 2025. The European Â鶹´«Ã½ and Markets Authority (ESMA) has also recognised LCH Ltd as a third-country CCP. With these developments, there will be no change to LCH Ltd’s ability to provide clearing services for all its products and services over this period.

The clearing house noted that it will continue to engage and cooperate with the appropriate regulatory authorities regarding long-term recognition of LCH Ltd on an ongoing basis under EMIR 2.2 and with ESMA on risk mitigation measures.

LCH SA continues to receive regulatory recognition from the Bank of England. This deemed recognition will extend for a maximum of three years after the close of the transition period on 31 December 2023, but may be extended by HM Treasury on a 12-monthly basis.

LCH reports that the Bank of England (BoE) has recently consulted on the future framework for Tiering and Comparable compliance Technical Standards, which is expected to finalise the UK’s clearing framework applicable to both UK and non-UK CCPs. This, it understands, will allow LCH SA to apply formally for recognition by the BoE.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Â鶹´«Ã½ Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Repo

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →