Bonds & Repos and €GCPlus service merger

LCH SA is pleased to deliver the merger of RepoClear SA and €GCPlus services, respectively our cash bond and repo trade clearing service and triparty basket repo clearing service

Benefit of the merger

RepoClear SA and €GCPlus services have been operating in silo but since July 2023 through full consolidation of the 2 services, RepoClear Members have the opportunity to trade eligible baskets, bonds & repos under a single membership with:

  • one default fund contribution
  • one set of margins
  • one set of reports

One single Margin calculation for both services will also bring more margin netting opportunities together with potential additional Balance Sheet optimization.

The merger offers members an efficient and simple one-stop-shop offering for both Specific repos and General Collateral.

This initiative forms part of LCH SA wider improvement to the €GCPlus service and follows the simplification of the allocation limits and the extension of trading cutoff times.

Changes to Margin Framework

As part of this merger, a new Intraday Margin call is introduced for all members at 11:00am CET in addition to the current Intraday Margin call.

Please contact: with any questions.