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.”