First trade completed on MTS Repo platform for LCH.Clearnet’s €GCPlus
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.”
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For further information:
Ed Clark +44 (0)20 7797 1222
Notes to editors:
About MTS Group:
MTS provides a professional trading environment for the interdealer marketplace, enabling primary dealers to access unparalleled liquidity, transparency and coverage. MTS delivers electronic fixed income trading, market data and indices and have over 500 unique counterparties and average daily volumes of €100 billion.
MTS Cash is a comprehensive and professional cash securities trading environment for the interdealer marketplace. The MTS Repo platform provides an order-driven market for the electronic transaction of repo agreements and buy/sellbacks, while ACM is an electronic auction platform that uses the MTS Repo technology to enable cash-rich investors to enter into secured money market investments via the tri-party repo mechanism.
MTS BondVision is a trusted and efficient multi-dealer-to-client electronic bond trading platform, delivering exceptional access for institutional investors direct to market makers. Through its US broker dealer, MTS provides US institutional investors with real-time pricing and the ability to trade with all the major European dealers on the BondVison platform.
MTS Credit delivers an electronic market for a wide range of multi-currency non-government bonds, including covered, SSA, corporate and financial bonds. MTS Swaps leverages existing MTS distribution technology to deliver immediate access to a diverse range of liquidity providers through your chosen prime banks.
MTS Data is sourced directly and exclusively from the MTS interdealer market and includes benchmark real-time data, reference data, reference prices and historical data, providing the benchmark data source on the fixed income market. MTS Indices are operated by FTSE TMX Global Debt Capital Markets, in which MTS has a 3 per cent stake. They provide independent, transparent, real-time and tradable eurozone fixed income indices, based on tradable prices from MTS. MTS indices are tracked by (and can be traded via) around 40 ETFs in addition to numerous structured products.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 40 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.