A member of
Eurex Repo
Eurex Repo, the leading marketplace for international, electronic repo trading and secured funding, today announced its further expansion in Europe. Banco de Investimento Global is its first Portuguese member. The bank has entered its first transactions via the Euro Repo and the GC Pooling markets. With this new customer, the total number of Euro Repo participants has risen to 87, thereof 74 use the GC Pooling market. Eurex Repo members are based in eleven countries, among them Germany, France, Great Britain, Netherlands, Spain, and – since this week – in Portugal.
“We welcome Banco de Investimento Global, and we are pleased that this Portuguese bank recognizes the advantages of our business model, which comprises anonymous electronic trading, central clearing and efficient collateral management via Clearstream”, said Marcel Naas, Managing Director of Eurex Repo. “The option to gain liquidity in and out of the market in an efficient way is especially important in turbulent market conditions.”
“After a thorough vetting process, we are very pleased to become the first member of Eurex Repo from Portugal”, said Carlos A. Rodrigues, Chairman and CEO of Banco de Investimento Global. He added that, “We expect that our direct membership will help us manage risks while adding efficiency and flexibility to our business model and look forward to working with Eurex Repo.”
The volumes in the secured money market GC Pooling and the Euro Repo market reached new record levels on 27 September 2011. GC Pooling achieved 164.4 billion euros average outstanding volume, whereas the Euro Repo market totaled 199 billion euros. The annual growth rate (CAGR) of GC Pooling has been at 78 percent since its launch in 2005.
Note to editorial staff:
GC Pooling offers a highly efficient market for trading central bank money and eligible assets, therebycreating a secondary market in the context of European Central Bank (ECB) open market transactions and integrated central clearing via Eurex Clearing, which considerably reduces counterparty risk.
Since September 2009, Eurex Repo has calculated and published the GC Pooling® EUR Overnight Index (GCPI) to track the short-term interest rates on the secured money market: http://www.eurexrepo.com/gcpooling/overnight_index.html
Media Contact:
Heiner Seidel, Tel: +49-69-2 11-1 15 00, heiner.seidel@eurexchange.com
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