LCH nixes US repo clearing, Weisbrod departs

David Weisbrod, CEO of LCH’s US businesses, left the company last month

LCH.Clearnet and David Weisbrod
LCH.Clearnet's offices in London, with David Weisbrod inset

LCH has shelved plans to launch a US repo clearing service after concluding the project would take too long to complete.

LCH established a working group in late 2014 to explore options for launching a US tri-party repo clearing service. The planned service would have allowed buy-side firms, including money market funds and hedge funds, to clear repo trades via agent clearers. The project was cancelled earlier this year.

"LCH is no longer pursuing US repo clearing as an active endeavour," says

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