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Repo Market

Repo Market

Established in July 2001, the Repo Market has developed tremendously and is now a highly liquid market for European securities. In November 2017 more than 143 international participants benefit from anonymous trading and clearing through a central counterparty with low costs.
In the General Collateral (GC) Repo segment, collateral can be turned into cash swiftly and directly, while the Special Repo segment offers a market for single securities financing.

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Participation

  • The applicant must be under the regulation of a domestic regulatory Authority
  • The applicant must be a credit institution or an investment firm according to the definition set forth in Art. 1Paragraph 1 and 2 and Art 4 Paragraph 1 of the Council Directive on markets for financial instruments 2004/39/EG ("MiFID")
  • The applicant is responsible for the technical connection to the Eurex Repo trading system
  • The applicant is required to follow the Eurex Clearing clearing process
    • Directly: As a Clearing Member of Eurex Clearing
    • Indirectly: By signing an agreement with an existing Clearing Member

The applicant may apply for a General-Clearing or Direct-Clearing-Membership. The General Clearing Member (GCM) has the right to clear its own trades as well as the trades of its customers and Non Clearing Members (NCMs). The Direct Clearing Member (DCM) has the right to clear its own trades as well as the trades of its customers and NCMs provided they are affiliated.

Institutions and/or its branches which are permitted in its country of domicile to provide credit to customers in relation to the matching of orders or quotes and receive collateral from customers in the form of securities and cash may apply for admission.

In addition the Clearing Member must fulfill the following requirements:

  • Minimum amount of liable equity capital
  • Clearing fund contribution
  • Cash Clearing: RTGS eligible account

Settlement and pledging of Securities:

  • Securities deposit: at Clearstream Banking or Euroclear
  • Pledged Securities Account: at Clearstream Banking Frankfurt or SegaInterSettle

Once a company becomes a participant, Eurex Repo does not limit the number of registered persons on its behalf.

 

Wuestenrot Bausparkasse AG joined the Repo & GC Pooling markets as of January 17, 2018

 
 
 

For more information

Eurex Repo | Sales & Relationship Management

Frankfurt/London/Paris/Zurich

T +49 (0)69 2 11-1 40 40

 
 
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