Principles
Eurex Repo is one of the most successful electronic markets for European securities with anonymous trading through a central counterparty. All connected participants benefit from a huge variety of products, fast execution and zero regulatory cost.
A market for all
The electronic Euro Repo Market is open for all interested financial institutions who fulfil the Trading and Clearing Admission. Please click for the current participant list.
Trading hours
Pre-trading phase: 07.00 - 07.30 CET
Main trading phase: 07:30 - 18:00 CET
Cut-Off Time for Overnights
Overnight Repo external (Settlement between Clearstream and Euroclear): 10:30 CET
Overnight Repo internal (Settlement within Clearstream): 15:30 CET
Overnight Repo internal (Settlement within Euroclear): 15:30 CET
Terms
Standard Terms
ON, TN, TomOpen, SN, Spot Open, CN, T1W, C1W, 1W, 2W, 3W, 1M, 2M, 3M, 6M, 9M, 12M, MAR, JUN, SEP, DEC,
Spot "VAR 1 WE", Spot VAR 1M", "VAR Flex", VAR OPEN", Non Standard
Contract Size
Minimum EUR 1 Million for GC Repo
Minimum EUR 500'000 for Special Repo
Specifications
 | | |
| Agency GC Basket | Debt securities of the European Investment Bank (EIB) and Caisse d'Amortissement de la Dette Sociale (CADES) as well as Government Guaranteed bonds from AT, BE, DE (XS-ISIN), ES, FI, FR, LU, NL, PT and UK (except SOFFIN bonds) with a minimum issue volume of EUR 500 million | |
| EIB / KFW GC Basket | Dept securities of the European Investment Bank (EIB) and KFW-bonds as well as European Financial Stability Facility (EFSF)-bonds denominated in Euro with a minimum issue volume of EUR 500 million | |
| European Corporate Bond GC Basket | Covered and uncovered debt securities of European issuers denominated in Euro, uncovered debt securities of European financial institutions as well as covered and uncovered Euro bonds denominated in Euro of European issuers with a minimum issue volume of EUR 100 million and a rating of A+ / A3 or better | |
| European Government GC Basket | Government bonds of the following countries: AT, BE, ES, FI, FR, IE, LU, NL, PT and the European Community (EU-ISIN) with a minimum issue volume of EUR 100 million | |
| European Covered Bond GC Basket | Covered bonds from AT, ES, FI, FR, IE, LU, NL and PT, as well as DE / UK (XS-ISIN) with a minimum issue volume of EUR 500 million and a rating of AA / Aa2 or better | |
| French Covered Bond GC Basket | French covered bonds with a minimum issue volume of EUR 500 million and a rating of AA / Aa2 or better | |
| German 10 Years GC Basket | Debt securities of the Federal Republic of Germany with a remaining term up to 10 years | |
| German Corporate Bond GC Basket | Covered or uncovered debt securities of German issuers which are denominated in Euro as well as uncovered debt securities of German financial institutions denominated in Euro with a minimum issue volume of EUR 100 million and a rating of A+ / A3 or better | |
| German GC Basket | Debt securities of the Federal Republic of Germany | |
| German GC KFW / Länder Basket | KfW-bonds and bonds of the German federal states and with a minimum issue volume of EUR 500 million, all "SOFFIN" bonds and Euro denominated floating rate notes | |
| German Jumbo Pfandbrief GC Basket | Jumbo Pfandbriefe issued by a German institution with a minimum issue volume of EUR 1 billion and a rating of AA / Aa2 or better | |
| German Pfandbrief GC Basket | Pfandbriefe issued by a German institution with an issued size over EUR 100 million and below EUR 1 billion and a rating of A+ / A2 or better | |
Open Order Book
All quotes are binding. Participants can use the Fill-or-Kill trading restriction. All orders and quotes will be automatically deleted at market close.
Trading Fees
- No admission fees
- Annual and transaction fees according to the below listed fee group
| | | | |||
| Trading Fees | Liquidity Taker | |||||
| Aggressor | Aggressor | Aggressor | ||||
| Min. Fee per Trade in € | 5.00 | 5.00 | 5.00 | 5.00 | 10.00 | 10.00 |
| 0.1 | 0.6 | 0.4 | 0.6 | 0.6 | 0.6 | |
| Other Terms in BP | 0.1 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 |
| Annual Fixed Fee in € | 100'000.- | 25'000.- | 10'000.- | |||
| Clearing Fees in basis points p.a. | 0.3 | |||||
"Aggressor": Participant who lifts or hits quotes.
"Non-Aggressor": Participant who actively quotes.
A screen on your PC
The "Collateral Overview" assists dealers in gaining a sense of the collateral structure, and is primarily used by Special traders.
The "Term Overview" assists dealers in gaining a sense of the term structure, and is primarily used by GC traders.
