Press Release
| Contact: | John Burke - Director, Fixed Income
|
RepoClear monthly volumes reach €8.5 trillion - broad growth delivers new records in all markets
London, 24 April 2006
RepoClear, LCH.Clearnet’s fixed income clearing service, is pleased to announce a new record monthly nominal volume for its repo clearing business in March 2006 of €8.5 trillion. This represents an increase of 43.4% over March 2005.
Throughout all markets, significant growth has been achieved in the first quarter, with new record nominal sizes in each. At the same time, yearon-year growth has shown increases in nominal volumes in the French sector (up 21.2%), Belgian (up 38.6%), Dutch (up 53.2%), Italian (up 183%), German (up 41.2%) and in the Gilt market (up 28%).
This success reflects the ongoing support to the market, with continued expansion of products and enhancements to services being provided.
LCH.Clearnet’s RepoClear service continues to drive towards the delivery of merger benefits for members, where a number of harmonisation and growth initiatives have been completed or are underway. These include the introduction of settlement shaping in the French market, and the implementation of Inflation Linked Bonds in the German market, and Treasury Bills in the UK.
John Burke, Director - Fixed Income at LCH.Clearnet, said, “The record volumes handled in the first quarter validate the continued efforts of LCH.Clearnet to provide the fixed income dealing community with the types of repo products and services they require. These statistics are a positive endorsement of the CCP model in fixed income in general, and of the LCH.Clearnet service in particular.”