BoE has announced that Euroclear and LCH. Clearnet are working on an initiative to offer central clearing and settlement of sterling general collateral repos trades. Trades cleared through LCH.Clearnet would settle at Euroclear using term delivery-by-value, in this way aligning settlement with the underlying maturity of the transactions and reducing operational and liquidity risks. (Source: BoE Announces Repo Clearing and Settlement Initiative)