Euroclear announced that clearing members will be able to settle all Italian government debt traded on MTS and BrokerTec cleared through LCH SA, the Paris-based CCP. This will include cash and repo at Euroclear Bank, the international central securities depository of Euroclear group. The service is anticipated to be available in 2026.
This development marks a further step in deepening integration across Europe’s post-trade ecosystem and will enable market participants to benefit from enhanced balance sheet netting and greater operational efficiency. By enabling settlement within Euroclear Bank, clients gain access to a broader, more efficient network for euro-denominated securities.
This model reduces fragmentation, enhances collateral mobility and reinforces the principles of open infrastructure and client choice. Additionally, settling directly through Euroclear Bank will enable the mobilization of Italian government debt onto Euroclear’s Collateral Highway for securities financing and funding opportunities.
Michel Semaan, global head of RepoClear at LSEG, said in a statement: “As a leading provider of clearing services for Italian government debt, we are delighted to be working with Euroclear to bring even greater efficiencies and choice to our members, both key elements of a competitive European capital market.”
Sebastien Danloy, chief business officer at Euroclear group, said in a statement: “Given that Italian government debt represents a major segment of the European fixed income market, this represents an important milestone in our vision of advancing the Savings and Investments Union. This is centered around greater choice, open access models and the continued development of a resilient, interconnected European capital market.”