Euroclear Bank Joins LCH RepoClear—Because the World Needed Another Repo Middleman

Clearing giant Euroclear just punched its ticket to the repo big leagues—because nothing screams ’financial innovation’ like another layer of institutional plumbing.

RepoClear’s club gets a new member

The securities settlement behemoth is now live on LCH’s RepoClear service, letting it net repo trades across European government bonds. Because if there’s one thing 2025’s markets need, it’s more ways for banks to shuffle collateral while pretending it’s ’liquidity management.’

Active verbs only? Try: Euroclear muscles into cleared repo space, elbows competitors, and prepares to monetize yet another back-office process. The move comes as traditional finance scrambles to stay relevant against DeFi’s 24/7 collateral merry-go-round—though good luck explaining blockchain to a 60-year-old repo trader.

Closing thought: At least this time the ’disruption’ won’t crash your crypto portfolio.

LSEG announces that Euroclear Bank’s Treasury division has joined LCH RepoClear SA as a member. Euroclear Bank’s Treasury division is now able to benefit from access to a vast liquidity pool, and the netting and risk management efficiencies available through the service, expanding its long-standing partnership with RepoClear. In joining RepoClear SA, Euroclear Bank will be active both in the specials and €GCPlus segments of the service as a key cash provider.

In 2014, RepoClear SA launched its GC Plus service, a general collateral tri-party repo clearing service which brings to market the combined expertise of LCH and Euroclear. It offers the market alternative routes to access general collateral liquidity through the world’s largest Euro cleared liquidity pool at RepoClear SA, following the 2023 merger of GC Plus and RepoClear SA. A record €220bn nominal was cleared in GC Plus in Q1 2025, up 83% vs Q4 2024, with a 120% increase in April versus the previous month.

“We are pleased to welcome our partner Euroclear Bank as the latest member of the RepoClear SA ecosystem. This is a significant moment for the growth of the service, as we broaden the range of financial institutions we serve, and so that large cash providers, such as Euroclear Bank, can benefit from our product offering.”

 “We are pleased to deepen our existing relationship with LCH as Euroclear Bank’s Treasury becomes a direct clearing member of Repoclear. Expanding Euroclear Bank’s repo clearing capabilities enables us to achieve greater capital and operational efficiencies while enhancing our risk management solutions. This step aligns to our strategy of promoting safety and resilience in the financial markets.”

Source: LSEG