Eurex Introduces Repo Trading - SWX Repo Dealings To Be Integrated Into Eurex/Access Via Internet

The SWX Swiss Exchange and Eurex have announced that they will cooperate in the trading of repos (sale and repurchase agreements). To that purpose, SWX-Repo, the existing electronic repo-trading platform of the SWX Swiss Exchange, has been integrated into Eurex as of 1 October and from now on will be operated as an independent segment under the name of Eurex-Repo. Eurex intends to offer this repo market, with its fully integrated clearing and settlement capacity, to institutional participants worldwide.

Eurex-Repo utilizes the same SWX Internet technology that has been in operation since June 1999 in the Swiss repo market. Today, the Swiss National Bank SNB carries out its open market operations almost exclusively via repos transacted on this platform. Thanks to its interconnec-tion with the fully automated clearing facilities of SIS SegaIntersettle AG and Swiss Interbank Clearing SIC, the Swiss repo market is distinguished by its high degree of efficiency in the settlement of securities transactions.