Iberclear, BME’s (SIX) central securities depository, announces an enhanced collaboration with LCH SA, the global clearing house of LSEG, aimed at enabling the settlement of Italian government bond transactions.
This initiative builds on the existing agreement between both entities, under which Iberclear already facilitates the settlement of Spanish, French and German government bond transactions cleared through LCH SA. With this new extension, clearing members will also be able to settle in Iberclear transactions in Italian government bonds traded on the main trading platforms and cleared by LCH SA. The new service is expected to go live during 2026.
“This development represents a significant milestone towards greater operational efficiency and reduced fragmentation across the European post-trade landscape. It will also help foster enhanced collateral mobility and more effective liquidity management for market participants”, says Francisco Béjar, Head of Custody at SIX and Managing Director of Iberclear.
“We are pleased to partner with Iberclear to further enhance efficiency and expand choice for our members, strengthening the competitiveness of the European capital markets”, explains Michel Semaan, Global Head of RepoClear, LSEG.
A key value-added component brought by Iberclear is the ability to settle in T2S using central bank money, thereby strengthening the safety, efficiency and robustness of the settlement process.
With this extension, Iberclear reaffirms its commitment to an open, interoperable infrastructure model and to fostering client choice, in line with the objectives of the Capital Markets Union.