The UK Debt Management Office (DMO), an executive agency of HM Treasury, has joined RepoClear as a clearing member and dealer. The DMO’s responsibilities include debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds.
The DMO will make use of the RepoClear gilts cash and repo service as part of its exchequer cash management operations. Over time, that will be extended to include activity in the recently launched Sterling GC product.
“RepoClear is delighted to welcome the DMO as a Member,” said John Burke, director of fixed income at LCH.Clearnet. “For RepoClear to be selected to provide its service to the DMO is, we believe, an indication of the central role played by the RepoClear service in the support of the fixed income market”.