MTS, a premier facilitator for the European fixed income market, today announced the completion of the first LCH.Clearnet S.A. €GCPlus trade on MTS Repo, its order-driven electronic European repo trading platform.
MTS Repo offers a professional and efficient electronic trading venue for the €GCPlus product, instantly connecting LCH.Clearnet S.A. members to a diverse and extensive repo trading community. The first trade was recently completed by two major banks.
Developed by LCH.Clearnet S.A. in collaboration with the Banque de France and Euroclear, €GCPlus is a centrally cleared tri-party repo product that offers secured euro cash funding with standardised baskets of collateral.
Oliver Clark, Head of Money Markets at MTS said: “LCH.Clearnet S.A.’s €GCPlus is a timely and forward thinking solution to the cash and collateral management challenges faced by institutions in today’s fixed income markets, and MTS Repo provides the optimum trading environment for this innovative product. The depth of counterparties and range of innovative functionalities on MTS Repo has established it as the benchmark for European electronic repo trading, and the first €GCPlus trade being completed on the platform is testament to our best-in-class technology and network.”
