oVERVIEW OF THE REPO MARKET
REPO CLEARING
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Click below to read our whitepaper: A Clear and Present Opportunity: Cleared Repo for Funds
The repo market is pivotal to the efficient working of almost all financial markets.
Repo markets play a key role in facilitating the flow of cash and securities around the financial system
On average, EUR 3 trillion* in repurchase agreements are traded each day.
Billateral and Cleared Repo
In the traditional repo market, clients trade bilaterally under individual GMRAs.
The repo market has largely been impacted by regulatory changes introduced after the global financial crisis.
Rising capital and liquidity costs have led to a change in dealer attitudes and a consistent decline in levels of repo liquidity to the buy-side, as well as a basis in pricing between bilateral and cleared.
Repo clearing has historically been an inter-dealer market for clearing member professionals only.
Recently, cleared repo has become available for the buy-side through a sponsorship model.
Societe Generale is one of the market leaders in providing repo clearing to the buy-side community
WHY US?
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benefits of repo clearing
LIQUIDITY
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DOCUMENTATION
Access to a larger and deeper pool of fixed income liquidity
Easier to get financing over month-end periods
Access to more providers without additional GMRAs
One-off execution of legal documents with CCP
Reduced operational requirements to settle bilateral trades against multiple brokers
Reduced leverage cost for banks that can impact general pricing seen for cleared repo
Clients face the CCP instead of multiple counterparties, providing the ability to net exposure
OPERATIONAL EFFICIENCY
IMPROVED PRICING
Credit exposure
We believe all clients should have the ability to use clearing and benefit from its operational, liquidity and capital benefits
Societe Generale is the only bank with clients on all platforms:
Eurex, LCH and DTCC
Contact us
Nicky Parsons
Director
Head of Product- Fixed Income Prime Brokerage EMEA
nicky.parsons@sgcib.com
Tel: +44 (0)20 7550 2399
Mob: +44 (0)7969 318 206
*Source: ICMA
CONTACT US
for professional investors and eligible counterparties only
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THIS DOCUMENT IS FOR THE EXCLUSIVE USE OF INVESTORS ACTING ON THEIR OWN ACCOUNT AND CATEGORISED EITHER AS “ELIGIBLE COUNTERPARTIES” OR “PROFESSIONAL CLIENTS” WITHIN THE MEANING OF MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE 2014/65/EU (EU MIFID) AND THE AMENDED, ONSHORED VERSION OF EU MIFID AND ITS ACCOMPANYING REGULATION UNDER THE EU (WITHDRAWAL) ACT 2018 AND THE MARKETS IN FINANCIAL INSTRUMENTS (AMENDMENT) (EU EXIT) REGULATIONS 2018 (COLLECTIVELY, UK MIFID). IT CANNOT BE DISCLOSED TO YOUR CLIENTS OR ANY OTHER THIRD PARTY.
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By continuing to use our website, you are accepting our use of cookies. The cookies we use are "analytical" cookies. They allow us to recognise and count the number of visitors and to see how visitors move around the site when they are using it. To find out more or to change your cookie preferences, please refer to our cookies policy.
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Important Information: Click Here
THIS DOCUMENT IS FOR YOUR EXCLUSIVE USE, BEING CATEGORISED EITHER AS “ELIGIBLE COUNTERPARTIES” OR “PROFESSIONAL CLIENTS” WITHIN THE MEANING OF MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE 2014/65/EU. IT CANNOT BE DISCLOSED TO YOUR CLIENTS OR ANY OTHER THIRD PARTY.
© Societe Generale 2022
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