Eurex Repo has signed its first Maltese bank, Mediterranean Bank, as a trading participant in its Euro Repo and GC Pooling markets.
This brings the total number of Euro Repo participants to 88 across twelve countries, of which 75 use the GC Pooling market.
“We welcome Mediterranean Bank and we are pleased that this Maltese bank recognises the advantages of our business model comprising anonymous electronic trading, central clearing and efficient collateral management via Clearstream,” says Marcel Naas, managing director of Eurex Repo. “The option to gain liquidity in and out of the market in an anonymous and efficient way is especially important in turbulent market conditions.”
The volumes in the secured money market GC Pooling and the Euro Repo market reached new record levels at the end of September this year. GC Pooling achieved €164.4 billion average outstanding volume, whereas the Euro Repo market totaled €199 billion. The annual growth rate (CAGR) of GC Pooling has been at 78 per cent since its launch in 2005.
For GC Pooling services, Mediterranean Bank is going to use Clearstream for settlement, custody and collateral management services through its account at the international central securities depository in Luxembourg.
