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COSI (Collateral Secured Instruments)
Eurex Repo offers a collateralization service with end to end processing for collateral secured instruments (COSI) listed on Scoach Switzerland. Certificates are bearer debt instruments (claims). The investor who purchases a certificate assumes a default risk that varies according to the creditworthiness of the issuer. The insolvency of the issuer could result in a total loss for the investor. In order to minimize this risk, Eurex Zürich AG (Collateralization) is offering a service for the collateralization of certificates in collaboration with SIX Swiss Exchange and SIX SIS AG.
Fully integrated value chain
The collateralization service is being offered by SIX Swiss Exchange as Collateral Taker and build upon the tried-and-trusted securities lending infrastructure of Eurex Zürich AG (Collateralization) and SIX SIS AG. Straight Through Processing (STP) from trading to settlement. Trader can monitor collateralization positions in real-time at all times, with no manual intervention required.
Advantages for the participant
- Access to an efficient and automated collateralization market for financing products (e.g. collateralized structured instruments)
- Increase of trading & settlement efficiency (speed, security, quality and quantity)
- Discretionary market visibility, trading speed, low probability of systemic fails, reduced reconciliation effort, corporate action service included
- Financing product and its collateral are linked throughout lifetime of financing product
- No need for back office capacity adjustments due to fluctuating volumes
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