Brief: LCH includes Jumbo Pfandbriefe market

Brief: LCH includes Jumbo Pfandbriefe market

London Clearing House (LCH) has added Jumbo Pfandbriefe repos and cash bonds (outrights) to its RepoClear system, making it the first non-government bond market to be added to the LCH RepoClear service.

The Jumbo Pfandbriefe market is the fourth largest bond market segment in Euroland. It is also one of the fastest growing fixed income markets in Europe growing 24% in 2000 to total outstanding issuance of ?370 billion, says the clearing house.

David Hardy, chief executive of LCH says: "The expansion into non-government bonds such as Jumbo Pfandbriefe is a significant step in the further development of our fixed income service LCH RepoClear. We expect to add additional bond products, both government and non-government, in the future."

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