IM calls rocket at LCH’s repo service in Q3

Peak aggregate initial margin call of €462 million in third quarter

€GCPlus, the clearing service for tri-party repo run by LCH SA, witnessed a surge of activity in the three months to end-September 2019.

The maximum aggregate initial margin call across the 11 members was €462 million ($516 million) in Q3. This was up 41% on the peak IM call for Q2 and 129% on the year-ago quarter.

€GCPlus members also contributed €148 million more to the service’s default fund, increasing its size by 74% on the previous quarter to €349 million.

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