http://www.bloomberg.com/news/2012-04-25/lch-raises-margin-cost-for-trading-some-spanish-french-debt-1-.html
LCH Raises Margin Cost for Trading Some Spanish, French Debt
By Lucy Meakin - Apr 25, 2012 12:49 PM ET
LCH Clearnet Ltd., Europe’s biggest clearing house, raised the extra deposit it demands from clients to trade some Spanish and French government bonds.
The margin needed for Spanish bonds due in 3.25 years to 4.75 years will be increased to 4.9 percent from 4.4 percent, according to information posted on LCH Clearnet’s website today. The rate for securities due between seven years and 10 years was boosted to 11.2 percent from 8.4 percent. LCH raised margins for all Spanish securities maturing between 2 years and 15 years, the statement showed.
LCH Clearnet increased the so-called deposit factor for French bonds maturing from 10 years to 15 years, to 6.4 percent from 6.1 percent. Margins on all other French securities, and all Italian bonds, were left unchanged.
A London-based spokeswoman for LCH Clearnet confirmed the changes.
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