Belgian debt has been included to LCH SA’s existing cleared repo activities on German, Italian, French and Spanish government bonds.
Belfius Bank and KBC Bank were among the first members to clear the new product with LCH.
The service will be executed on the pan-European Target2-Securities (TS2) platform, which is aimed at enhancing netting and settlement efficiencies.
Christophe Hémon, CEO at LCH, said: “We’re committed to providing our members with choice and ensuring that they are able to realise the maximum benefits of clearing. T2S provides the market with a great opportunity for improved efficiency, and this initiative ties in well with the aims of that project.”
Jeffrey Van Impe, head of repo at Belfius Bank, said: “Having a choice of clearing venues is important to us, and we are pleased that LCH SA has extended its clearing offering for European government debt.”