Eurex has become the first clearing house in Europe to centrally clear repo transactions for BNY Mellon.
The move is a milestone for Eurex’s cleared repo market, which welcomes BNY Mellon as a trading and clearing member of Eurex Repo and Eurex Clearing, with the first transactions already executed.
Eurex’s liquid and centrally cleared repo markets enable clients to trade repos with more than 160 registered participants, including commercial and central banks, government financing agencies and a broad range of supranational organisations.
The clearing house says it helps market participants to efficiently and securely raise or place cash against more than 13,000 domestic and international securities.
Frank Gast, member of the management board of Eurex Repo, says: “The opportunities in the European repo market are huge and Eurex is excited to support BNY Mellon with our centrally cleared and innovative offerings.”
Björn Storim, CEO of BNY Mellon's European bank, adds: “Access to Eurex enhances our overall liquidity management tool kit. The demand for European repo is continuously increasing and this important milestone supports us in expanding our business and risk management capabilities in Europe.”
