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"Despite a difficult year for bond markets, we have managed to further increase volumes in both the Euro and Swiss Franc Repo Markets," said Marcel Naas, General Manager of Eurex Repo. "This shows that Eurex Repo's electronic repo marketplaces have established themselves as a key player in collateralized financing."
The average outstanding volume on Eurex Repo as of end-November was up around 21 percent y-o-y, totaling € 52.4 billion. The Euro Repo Market exhibited particularly strong growth. By the end of November, average outstanding volume of €15.5 billion had been generated - equating to growth of 31 percent year-on-year. The Swiss Franc Repo Market also enjoyed a strong rate of growth. The average outstanding volume rose to CHF 55.3 billion - up 17 percent on the prior-year period.
Eurex Repo succeeded in attracting new participants in 2004, as well. Eight new banks and financial services providers from the UK, France, Germany, and Switzerland were admitted, bringing the total number of banks trading on Eurex Repo up to 155, from nine different countries. This has allowed the company to further enhance its position as a pan-European marketplace for repo trading.
As already announced, Eurex Repo is scheduled to launch its new product, Euro GC Pooling®, on March 17. Euro GC Pooling will allow the company to offer cash-driven, international trading of a General Collateral Basket with over 9,000 ECB-eligible fixed-income securities. Eurex Repo will therefore be able to raise efficiency in the trading and collateral management of collateralized money market transactions, and to help repo market participants optimize their use of collateral.
Eurex Repo successfully completed the technical preparations for the launch of Euro GC Pooling at the end of November. From the start of Mach, Euro GC Pooling participants will have access to a simulation environment that they can use to thoroughly test the entire business process - from GC Pooling quote entry through to GC Pooling Collateral Management.
