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GC Pooling Market

GC Pooling Market

 

Launched in March 2005, GC Pooling has become a highly liquid market for secured funding in EUR, USD, CHF and GBP. The international participants benefit from anonymous electronic trading through a central counterparty (CCP) with a real-time collateral management system.

Overview of content

Principles

It is easy to trade extremely large tickets and deals can be seamlessly completed and then processed automatically without any issues over credit or security allocation.
The compelling advantage of GC Pooling is the re-use possibility of received collateral for further money market transactions, the Eurex Clearing Margining process and refinancing within the framework of European Central Bank (ECB) open market operations provided the bank has a German banking license.

Standardized baskets of fixed income securities and equities tradable in EUR, CHF, USD and GBP.

 
GC Pooling Market participants can select the various standardized baskets by pre-defined terms per currency.

Terms

Multiple standard terms from overnight until more than two years are offered:
OverNight, TomNext, SpotNext, SpotTerm, FlexTerm, Open, Variable and Open/Variable terms.

The repo interest rates of the Variable and Open/Variable terms may reference to the STOXX GC Pooling EUR ON Index, STOXX GC Pooling EUR Extended ON Index, STOXX GC Pooling EUR TN Index, GC Pooling EUR SN Index or EONIA.

Open Order Book

The quote book contains all quotes entered by the participants with full market depth. The quotes are displayed per term/collateral combination including volume. All quotes are legally binding and will be automatically deleted at market close. Eurex Repo does not offer an automatic matching. The traders have to lift or hit a quote proactively. In addition to entering quotes two participants may agree on a trade bilaterally and enter the repo transaction into the system by using the pre-arranged trading functionality.

Trading Hours

Pre-trading phase: 07:00 - 07:30 CET

Contract Size

Minimum EUR 1 Million

Trading Fees

  • No admission fees
  • Minimum transaction fees of EUR 800/month
  • Annual and transaction fees according to the below listed fee group

"Aggressor": Participant who lifts or hits quotes. "Non-Aggressor": Participant who actively quotes.

Settlement Specifications

TermsTrade daySettlement front legSettlement term leg
EUR GC Pooling OverNight (ON)TT via RTST+1 in SDS1
EUR GC Pooling Tomorrow Next (TN)TT+1 in SDS1T+2 in SDS1
EUR GC Pooling SpotNext (SN)TT+2 in SDS1T+3 in SDS1
EUR GC Pooling Spot TermTT+2 in SDS1T+X in SDS1
EUR GC Pooling Flex TermTT+X in SDS1T+Y in SDS1
USD GC Pooling Tomorrow Next (TN)TT+1 in RTST+2 in RTS
USD GC Pooling SpotNext (SN)TT+2 in RTST+3 in RTS
USD GC Pooling Spot TermTT+2 in RTST+X in RTS
USD GC Pooling Flex TermTT+X in RTST+Y in RTS
CHF GC Pooling Tomorrow Next (TN)TT+1 in RTST+2 in RTS
CHF GC Pooling SpotNext (SN)TT+2 in RTST+3 in RTS
CHF GC Pooling Spot TermTT+2 in RTST+X in RTS
CHF GC Pooling Flex TermTT+X in RTST+Y in RTS

RTS = Real Time Settlement; SDS1 = Same Day Setttlement

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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