LCH RepoClear SA launches €GCPlus green basket
22 January 2024 France
Image: CYBERUSS/stock.adobe.com
LCH RepoClear SA, a London Stock Exchange Group-owned business, has launched its first general collateral triparty green basket.
The sustainable €GCPlus offering comprises EUR denominated investment grade bonds, aligned with the issuer-reported green bond reference data provided by Bloomberg.
According to the Paris-based clearing house, the net proceeds of eligible bonds will be used by the issuer to finance projects or activities that promote environmental-related activities, including climate change mitigation.
The basket expands on the firm’s existing triparty basket repo offering, following the merger of its two clearing services — €GCPlus liquidity and its €3.3 trillion RepoClear liquidity pool — in July 2023.
LCH SA continues to expand its €GCPlus product offering through the launch of additional baskets, including GovSSA basket (Governments, Supranational, Subnational and Agencies basket) and a basket comprising Italian government bonds.
Olivier Nin, interim head of RepoClear and collateral and liquidity management at LCH SA, says: “We are proud to support our members’ sustainability objectives with the launch of the €GCPlus green basket.
“Together with the additional baskets launched through our existing offering, we continue to adapt our products so that our members can benefit from further cross margin netting opportunities across their special and triparty general collateral activity in addition to a wider choice of liquidity pools.”
Olivier Grimonpont, managing director, head of product management, market liquidity at Euroclear, adds: “We are very pleased to have supported LCH RepoClear in their launch of a new green basket on EuroGCPlus.
“In our role as a financial market infrastructure, we work with the market to help advance important innovative solutions that will support growth and stability.”
The sustainable €GCPlus offering comprises EUR denominated investment grade bonds, aligned with the issuer-reported green bond reference data provided by Bloomberg.
According to the Paris-based clearing house, the net proceeds of eligible bonds will be used by the issuer to finance projects or activities that promote environmental-related activities, including climate change mitigation.
The basket expands on the firm’s existing triparty basket repo offering, following the merger of its two clearing services — €GCPlus liquidity and its €3.3 trillion RepoClear liquidity pool — in July 2023.
LCH SA continues to expand its €GCPlus product offering through the launch of additional baskets, including GovSSA basket (Governments, Supranational, Subnational and Agencies basket) and a basket comprising Italian government bonds.
Olivier Nin, interim head of RepoClear and collateral and liquidity management at LCH SA, says: “We are proud to support our members’ sustainability objectives with the launch of the €GCPlus green basket.
“Together with the additional baskets launched through our existing offering, we continue to adapt our products so that our members can benefit from further cross margin netting opportunities across their special and triparty general collateral activity in addition to a wider choice of liquidity pools.”
Olivier Grimonpont, managing director, head of product management, market liquidity at Euroclear, adds: “We are very pleased to have supported LCH RepoClear in their launch of a new green basket on EuroGCPlus.
“In our role as a financial market infrastructure, we work with the market to help advance important innovative solutions that will support growth and stability.”
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