Eurex Euro Repo Boosts Outstanding Volume By 300 Percent

Eurex, the international exchange organization, boosted the outstanding volume on its euro repo platform by more than 300 percent to 10 billion euros, as Eurex reported in a press release on December 10, 2002. In the meantime, 20 banks have been admitted to trading on Eurex Euro Repo, which was launched in July 2001 with eight participants. Above all, the interest of international market participants in trading on Eurex Repo has increased considerably. In the meantime, moreover, Eurex has also taken over the market leadership in repo trading with German Jumbo Pfandbriefe, Eurex said.

The so-called Auto-GC-Completion functionality made a major contribution to the success of Eurex Repo during the year, Eurex added. This functionality supports the participants in the active implementation of their delivery management and has further simplified the GC (General Collateral) repo business. The participants can specify their basket of German government bonds and Jumbo Pfandbriefe for GC repos beforehand in a list that is especially geared to their trading strategies, and can thus select a defined number of specific securities for delivery. Eurex Repo has thus made a further contribution to standardizing the GC markets. At its peak, Eurex Repo has handled individual transactions of more than 1.5 billion euros in a matter of seconds.

The participation of the German Finance Agency of the Federal Republic of Germany on the Eurex Repo platform since May 2002 has also made the platform even more attractive and underscores the growing importance of euro repo trading as collateralized financing in the short-term segment. In addition, with the introduction of a KFW/German states basket for general collateral trading in November 2002, Eurex Repo made a new and attractive product available to the market. Moreover, by its own accounts, Eurex Repo is the leader in this sector when it comes to costs: A transaction equivalent to 100 million euros with a term of one day costs the participant less than 17 euros for trading and clearing.

Smooth processing of the transactions on Eurex Repo is guaranteed by Eurex Clearing AG, which functions as the central counterparty for the buyer and the seller. Eurex is the only exchange organization worldwide that provides the market with all clearing services for the entire fixed-income segment, in addition to trading.

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