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Fixed Income clearing business reaches a new quarterly record

London, 7 April 2008

LCH.Clearnet is pleased to announce that in the first quarter of 2008, its Fixed Income clearing business continued to demonstrate strong growth with a record €120 trillion of term-adjusted repo volume cleared; representing a 34% increase over the same period in 2007.

Commenting on business performance, John Burke, Director of Fixed Income said “These performance figures are very encouraging and I am particularly heartened that, at such a difficult and uncertain time in the fixed income markets, the value to our customers of their using LCH.Clearnet’s central counterparty service appears to have been reinforced. 

Furthermore, the remarkable performance of our Euro and Sterling repo products and continuation of high levels of inter-bank repo trading activity, provides additional counterparty risk management benefits to our members and bodes well for the introduction of the RepoClear EuroGC service which will be launched shortly”.

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Editors Notes

LCH.Clearnet is currently owned 67.6% by users, 17.8% by exchanges with the balance of 14.6% being held by Euroclear. Upon completion of the Euronext share buy-back programme by 2009, the Group will be owned 73.3% by users, 10.9% by exchanges and 15.8% by Euroclear.

LCH.Clearnet serves major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets.