STOXX and Eurex Repo grow the family indices
17 October 2013 Zurich
Image: Shutterstock
STOXX Limited and Eurex Repo have expanded the STOXX GC Pooling Index family by 14 new indices to cover the full money market yield curve up to twelve months.
Also, an additional funding rate is introduced that measure secured interbank funding rate and volume in the euro zone at the short end of the money market curve.
The STOXX GC Pooling Indices provide a representation of the secured euro funding transactions taking place on the Eurex Repo GC Pooling Market, and are designed to provide transparent, rules-based alternatives to unsecured interbank benchmarks such as LIBOR and EURIBOR/EONIA.
The STOXX GC Pooling EUR Deposit and STOXX GC Pooling EUR Investable Deposit indices are also being launched today. The new indices measure the total return of a hypothetical rolling deposit with an interest rate corresponding to the STOXX GC Pooling EUR Funding Rate. These indices are specifically designed to underlie exchange-traded products.
“As we are still seeing a growing demand for transparent, rules-based and reliable benchmarks for the interbank market from market participants and regulators globally, we are happy to introduce the second wave of our STOXX
GC Pooling Indices,” said Hartmut Graf, CEO of STOXX Limited.
“With the addition of the 14 new indices to the family, we now cover the full money market yield curve, and offer market participants a wide variety of yield terms to choose from.”
“Liquidity has further increased in the course of 2013 across all terms and maturities in our secured, transparent and centrally cleared GC Pooling Market.
The new indices together with the previously launched ones are a reliable and independent alternative to existing interbanking benchmarks,” said Marcel Naas, managing director of Eurex Repo.
Also, an additional funding rate is introduced that measure secured interbank funding rate and volume in the euro zone at the short end of the money market curve.
The STOXX GC Pooling Indices provide a representation of the secured euro funding transactions taking place on the Eurex Repo GC Pooling Market, and are designed to provide transparent, rules-based alternatives to unsecured interbank benchmarks such as LIBOR and EURIBOR/EONIA.
The STOXX GC Pooling EUR Deposit and STOXX GC Pooling EUR Investable Deposit indices are also being launched today. The new indices measure the total return of a hypothetical rolling deposit with an interest rate corresponding to the STOXX GC Pooling EUR Funding Rate. These indices are specifically designed to underlie exchange-traded products.
“As we are still seeing a growing demand for transparent, rules-based and reliable benchmarks for the interbank market from market participants and regulators globally, we are happy to introduce the second wave of our STOXX
GC Pooling Indices,” said Hartmut Graf, CEO of STOXX Limited.
“With the addition of the 14 new indices to the family, we now cover the full money market yield curve, and offer market participants a wide variety of yield terms to choose from.”
“Liquidity has further increased in the course of 2013 across all terms and maturities in our secured, transparent and centrally cleared GC Pooling Market.
The new indices together with the previously launched ones are a reliable and independent alternative to existing interbanking benchmarks,” said Marcel Naas, managing director of Eurex Repo.
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