Italian government debt traded on MTS and BrokerTec and cleared through LCH will be able to be settled on Euroclear from next year, the infrastructure provider has announced.
This includes cash and repo at Euroclear Bank, the group’sInternational Central Securities Depository.
Enabling Italian government debt to be settled directly through Euroclear Bank will give clients access to a wide network of euro-denominated securities, the company says, and facilitate the use of the debt for securities financing and funding on Euroclear’s Collateral Highway.
Sebastien Danloy, chief business officer for the Euroclear group, commented, “Given that Italian government debt represents a major segment of the European fixed income market, this represents an important milestone in our vision of advancing the Savings and Investments Union.”
Users will benefit from enhanced balance sheet netting and improved operational efficiency, it added.
Euroclear also states that this initiative will improve integration across the European post-trade ecosystem.
“This is centred around greater choice, open access models and the continued development of a resilient, interconnected European capital market,” Danloy concluded.
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