Free Trial

EUROZONE ISSUANCE: EU Has Announced Repo Facility Launch For October 7

EUROZONE ISSUANCE

The EU has announced it will launch a repo facility on October 7. It looks like the announcement came yesterday, with wires only picking up on the news today.

  • The release notes that “Under the Facility, the EU will offer its Primary Dealers the possibility to source specific EU-Bonds on a temporary basis, supporting their capacity to post firm public quotes. By acting as a backstop to the Primary Dealers’ secondary market activity, the Facility will allow investors to be more confident in the terms on which they can trade EU-Bonds in the secondary market, improving the overall efficiency and fluidity of the EU-Bonds market.”
  • “EU repo transactions will be executed on the Eurex Repo web-based trading system and will be cleared via Eurex Clearing as central counterparty (CCP). Deutsche Bundesbank will act as the General Clearing Member (GCM) for the settlement of the transactions.”
  • Full release: https://ec.europa.eu/newsroom/budget/items/849939/en
145 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The EU has announced it will launch a repo facility on October 7. It looks like the announcement came yesterday, with wires only picking up on the news today.

  • The release notes that “Under the Facility, the EU will offer its Primary Dealers the possibility to source specific EU-Bonds on a temporary basis, supporting their capacity to post firm public quotes. By acting as a backstop to the Primary Dealers’ secondary market activity, the Facility will allow investors to be more confident in the terms on which they can trade EU-Bonds in the secondary market, improving the overall efficiency and fluidity of the EU-Bonds market.”
  • “EU repo transactions will be executed on the Eurex Repo web-based trading system and will be cleared via Eurex Clearing as central counterparty (CCP). Deutsche Bundesbank will act as the General Clearing Member (GCM) for the settlement of the transactions.”
  • Full release: https://ec.europa.eu/newsroom/budget/items/849939/en