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LCH welcomes BMO Capital Markets as the third Canadian bank member to go live on its SA RepoClear service.
The service provides government bond cash and repo clearing for a growing number of European markets, including Dutch, Italian, Portuguese and Austrian.
Commenting on the announcement, Nick Chan, head of financial resource management, BMO Capital Markets, says: “ In addition to increased netting capacity, this will allow us to better service our institutional clients and is a testament of our growing ambitions in the industry.”
Corentine Poilvet-Clediere, head of RepoClear, collateral and liquidity management, LCH SA, adds: “We are very excited to welcome BMO as our third Canadian member into the RepoClear liquidity pool.
“This confirms our effort to support more and more international players entering the European repo market. It is essential for us to continue providing new forms of connection between strong market participants like BMO and our diverse membership as well as growing buy-side sponsored community.”
