- Michel will focus on the next phase of growth for RepoClear, overseeing clearing for both the euro and sterling repo market
- In that capacity, he will report to Corentine Poilvet-Clédière, CEO, LCH SA, and Isabelle Girolami, CEO, LCH Ltd. and join their respective leadership teams
LCH today announces that Michel Semaan has joined as the new Global Head of RepoClear. Michel will lead RepoClear in the next phase of growth across Europe and the UK, focusing on the expansion of its clearing membership and the development of RepoClear’s Sponsored and Guaranteed Sponsored Clearing models. Michel will report to Corentine Poilvet-Clédière, CEO, LCH SA, and Isabelle Girolami, CEO, LCH Ltd. and he will join their respective leadership teams.
Michel brings with him over 25 years’ experience in repo markets and a wealth of expertise in trading and global financial markets in the areas of secured and unsecured funding. He is a highly experienced leader of trading teams and businesses, with extensive experience of building and diversifying revenue streams. Most recently, Michel served as the Global Head of Securities Financing at BBVA.
Daniel Maguire, Group Head of LSEG’s Markets division and CEO, LCH Group, said: “We are delighted to welcome Michel to LCH SA and Ltd. to lead the RepoClear service globally. Access to cleared repo has proven critical over the last few years with an increasing number of market participants looking to RepoClear to optimise their resource efficiency, improve their risk management practices, and reduce their costs. Michel’s experience will be invaluable as we look to focus on delivering new services across RepoClear and diversifying our membership over the years to come.”
RepoClear has continued to see impressive growth across both clearing services. A new record was reached in Q3 2024 with €80 trillion nominal cleared across euro debt and gilts, up 3.1% vs Q2 2024. The service is also seeing impressive growth in cash trades, with €4.2 trillion cleared in Q3, up 8% vs Q2 2024. This growth is driven by the participation of over 150 clearing members representing four continents, resulting in over €300 trillion in nominal cleared in 2023, a 44% increase since 2020.
RepoClear at LCH SA is a France registered cash bond, repo trade and €GCPlus triparty basket repo clearing service. Members can clear cash bond and repo transactions across 13 euro debt markets, and additional markets through our €GCPlus triparty basket repo. RepoClear at LCH Ltd. is a UK-registered cash bond and repo trade clearing service. Members can clear UK government bond (gilt) cash and repo transactions, as well as gilt General Collateral repo through our cleared DBV product, Term £GC.
Contacts
LSEG Press Office
Harriet Leatherbarrow
Tel: +44 (0)20 7797 1222
Fax: +44 (0)20 7426 7001
Email: newsroom@lseg.com
Website: www.lseg.com
About Us
LCH. The Markets’ Partner.
LCH builds strong relationships with commodity, credit, equity, fixed income, foreign exchange (FX) and rates market participants to help drive superior performance and deliver best-in-class risk management.
As a member or client, partnering with us helps you increase capital and operational efficiency, while adhering to an expanding and complex set of cross-border regulations, thanks to our experience and expertise.
Working closely with our stakeholders, we have helped the market transition to central clearing and continue to introduce innovative enhancements. Choose from a variety of solutions such as compression, sponsored clearing, credit index options clearing, contracts for differences clearing and LCH SwapAgent for managing uncleared swaps. Our focus on innovation and our uncompromising commitment to service delivery make LCH, an LSEG business, the natural choice of the world’s leading market participants globally.
