RepoClear clears first Variable Rate Repo indexed to €STR

RepoClear has successfully cleared its first Variable Rate Repo (VRR) trade indexed on the Euro short-term rate (€STR).

-Credit Suisse among the first participants to clear the new rate at LCH -Follows ECB launch of €STR on 2 October 2019

-Demonstrates LCH’s support for global rates reform

Corentine Poilvet-Clediere, Head of RepoClear, LCH SA, said: “RepoClear is delighted to have successfully cleared its first variable rate repo trade indexed to €STR. This is another significant milestone as the market transitions to alternative reference rates with both recalibrated EONIA and €STR rates now available for clearing.”

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