Press Release

BME Clearing starts clearing repo trades on European sovereign debt

Italian, Portuguese, German, French, Dutch and Austrian sovereign debt to be covered

21 November, 2019

BME Clearing, BME’s Central Counterparty (CCP), today started offering clearing of repo trades on sovereign bonds from several European countries, in addition to the clearing of Spanish sovereign debt repo trades that it already offers.

BME Clearing will build on the network of links established by Iberclear with the central securities depositories of Italy, Portugal, Germany, France, the Netherlands and Austria to expand clearing to repo trades executed by its members on sovereign debt from these countries. BME Clearing’s clients will be able to clear these trades without having to change their processes and systems.  

This initiative is part of BME Clearing’s broader offering in the Fixed Income segment and adds to the launch of the connection with the BrokerTec platform, available since December 2018.

Ignacio Solloa, CEO of BME Clearing, highlights that this new service expands the options available to participants in the CCP for clearing Fixed-Income trades and facilitates the management of their treasury. “We are delighted to continue expanding our clearing services to participating banks, which can benefit from BME Clearing's efficiency, transparency and reliability".

As an authorised CCP under the European EMIR Regulation, BME Clearing offers clearing services in Spain for Equities, Sovereign Debt Repos, Financial Derivatives, xRolling FX currency products, Energy Derivatives and Interest Rate Swaps.

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