LCH Gains First Japanese Clearing Member
- Mizuho Securities Co., Ltd live clearing Euro debt at LCH SA
- Demonstrates international appeal of LCH’s clearing offering, representing the largest European pool of cleared debt
LCH, a leading global clearing house, today announced that Mizuho Securities Co., Ltd (Mizuho) has become the first Japanese financial institution to access LCH SA’s Euro debt clearing services as a member of RepoClear. By joining the service, Mizuho is now able to access the largest netting pool of Euro-denominated debt, allowing it to benefit from the risk management and operational efficiencies of central clearing.
— LCH (@LCH_Clearing) September 2, 2019
The financial institution is already a member of LCH Ltd’s RepoClear service.
Corentine Poilvet-Clèdiere, Head of RepoClear and Collateral, LCH SA, said: “I’m delighted to welcome Mizuho as LCH SA’s first Japanese clearing member. This is an important step in the international development of RepoClear’s service, building on the consolidation of Euro debt clearing into LCH SA earlier this year. We look forward to continuing to expand our membership base and our service offering over the coming months.”
Nozomi Kishimoto and Amandine Triadu, Head of Repo in Tokyo and London respectively at Mizuho Securities said: “Becoming a member of LCH SA means that Mizuho is now able to benefit from the largest pool of Euro debt clearing in Europe. Clearing through LCH SA enables us to maintain access to this important liquidity pool while managing our counterparty risk effectively.”
€STR swaps will inherit much of the pre-existing liquidity from the EONIA swaps market.
Income at clearing house LCH rose 19% in the third quarter.
This significantly broadens the proportion of the FX market which can be cleared.
A powerhouse Asian brokerage is set to make its mark in North America.
The largest asset managers will soon be subject to uncleared margin rules.