More cleared repo sponsors join Eurex ahead of cross-margining
End of TLTROs for banks and pension fund search for liquidity management tools drives uptake
More banks are looking to offer sponsored access to European repo clearing at Eurex, even before repo trades become part of the central counterparty’s (CCP) cross-margining facility.
Before 2023, Societe Generale was the only bank offering to sponsor pension funds to clear as part of Eurex Repo’s dealer-to-client service – referred to as a clearing agent member by Eurex. However, in the past 12 months, ABN Amro has begun sponsoring buy-side access, and three sources say there are three more banks
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