Eurex Repo has announced its further expansion in Europe with its first Portuguese member, Banco de Investimento Global. The bank has entered its first transactions via the Euro Repo and the GC Pooling markets.
"We welcome Banco de Investimento Global, and we are pleased that this Portuguese bank recognises 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."
Despite a severe austerity budget following Portugal's €78 billion bailout, government officials are warning that any defaults in the eurozone would make the country "vulnerable" and under such a circumstance "we cannot exclude that Portugal’s assistance plan would have to be reinforced” according to the Financial Times.
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