Danmarks Nationalbank to centrally-clear repo trades at Eurex
21 September 2023 Denmark
Image: Alexi_Tauzin/stock.adobe.com
Eurex has onboarded its first Nordic central bank, Danmarks Nationalbank, to trade and centrally-cleared repo transactions on the platform.
The move is a milestone for Eurex’s cleared repo markets and follows the recent addition of BNY Mellon — which selected Eurex as the first European central counterparty to trade centrally-cleared repo trades for the US bank.
Eurex says its liquid and centrally-cleared repo markets allow clients to trade repos with more than 160 registered participants. The platform enables clients to raise or place cash in four currencies against more than 13,000 domestic and international securities.
Danmarks Nationalbank is the second central bank outside the euro area to join Eurex and the fifth central bank connected to Eurex for repo so far.
Commenting on the announcement, Martin Wagner Toftdahl, head of banking and markets at Danmarks Nationalbank, says: “Joining centrally-cleared repo markets is an important milestone in our reserve management.
“First and foremost, centrally-cleared repo transactions are perfectly in line with our aim of having broad market access and ensuring efficient management across products. Having access to liquid markets for cleared repos will further strengthen our ability to achieve underlying demand for our euro liquidity.”
Matthias Graulich, member of the executive board at Eurex Clearing, adds: “We welcome Danmarks Nationalbank as a Eurex Trading and Clearing Member for our repo markets. Eurex is excited to facilitate the needs of Danmarks Nationalbank with our innovative offerings. Our cleared repo markets have proven to be an efficient and reliable source of funding during all times of market events.”
The move is a milestone for Eurex’s cleared repo markets and follows the recent addition of BNY Mellon — which selected Eurex as the first European central counterparty to trade centrally-cleared repo trades for the US bank.
Eurex says its liquid and centrally-cleared repo markets allow clients to trade repos with more than 160 registered participants. The platform enables clients to raise or place cash in four currencies against more than 13,000 domestic and international securities.
Danmarks Nationalbank is the second central bank outside the euro area to join Eurex and the fifth central bank connected to Eurex for repo so far.
Commenting on the announcement, Martin Wagner Toftdahl, head of banking and markets at Danmarks Nationalbank, says: “Joining centrally-cleared repo markets is an important milestone in our reserve management.
“First and foremost, centrally-cleared repo transactions are perfectly in line with our aim of having broad market access and ensuring efficient management across products. Having access to liquid markets for cleared repos will further strengthen our ability to achieve underlying demand for our euro liquidity.”
Matthias Graulich, member of the executive board at Eurex Clearing, adds: “We welcome Danmarks Nationalbank as a Eurex Trading and Clearing Member for our repo markets. Eurex is excited to facilitate the needs of Danmarks Nationalbank with our innovative offerings. Our cleared repo markets have proven to be an efficient and reliable source of funding during all times of market events.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
