CME and LCH.Clearnet prep buy-side repo clearing
Clearing giants CME and LCH.Clearnet are set to challenge the DTCC and Eurex for buy-side repo business
CME Group and LCH.Clearnet are developing repo clearing services for the buy side, setting up a scrap with the Depository Trust & Clearing Corporation (DTCC) and Eurex Clearing, which have already announced similar projects.
LCH.Clearnet currently clears a range of European government bond and repo trades for dealers via its RepoClear service, with monthly volumes averaging €13 trillion.
The group started reviewing options for buy-side clearing with market participants at the end of last year
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