SIX Repo is pleased to announce the go live of BME Clearing on the CO:RE Repo Market. As a participant, BME Clearing benefits from a liquid market and the entire value chain. BME Clearing is joining a market with a growing appetite for foreign, non-CHF currencies and, as a cash provider, BME Clearing can cater to this market demand. With a single agreement, the Swiss Master Repo Agreement, BME Clearing has access to all participants and a highly liquid market with a Daily Outstanding Volume of around CHF 70 billion, and where repo contracts in the three base currencies Swiss francs, Euro and US dollar as well as in different baskets are traded.
Christian Geiger, Head Repo and Collateral Management Sales, SIX, comments: “We are pleased to welcome BME Clearing on our market and to add another European participant to our client base. As Euro cash provider, BME Clearing is joining our market at the right moment, as we have seen an increasing demand for euros – so BME Clearing is definitely adding value to our market and will be an attractive counterparty.”
Javier Aguila Llovera, Head Clearing Architecture, BME Clearing, adds further: ‘SIX Repo’s platform helps us manage our regulatory requirements related to liquidity and credit risk more efficient. We appreciate the good collaboration and support we received from the SIX Repo team throughout the on-boarding process and now look forward to begin actively trading on CO:RE.’’
About BME Clearing
BME Clearing is the company of BME Group that runs the Central Counterparty (CCP) activities in Spain. BME Clearing, has more than 30 years of experience in managing counterparty risk for a wide range of financial and non-financial assets. BME Clearing main purpose is making sure that in case of a participant’s default, the rest of participants do not suffer any losses. BME Clearing is authorized in accordance with the Regulation EMIR – (EU) No 648/2012- In accordance with EMIR, BME Clearing is authorized by its competent authority, the Comisión Nacional del Mercado de Valores (CNMV), to provide clearing services as a Central Counterparty. BME Clearing is therefore included in the list of CCPs authorized to offer services and activities in the European Union, published by the European Securities and Markets Authority (ESMA). BME Clearing is the CCP for the following segments: Financial Derivatives, Fixed Income, Energy, Swaps, Equity and xRolling® futures.
Tailor-Made Liquidity for Your Needs
The repo and over-the-counter (OTC) trading markets represent a substantial source of liquidity, which can be tailored precisely to the participant’s needs. New participants do not only benefit from a smooth onboarding process but also from a seamless functionality, a high liquid market, a wide range of integrated and individual services and an outstanding service.
Collateral Management for All Transactions
The many different purposes and uses of collateral make it difficult to keep an eye on the various limits and requirements at the same time for example triparty repo, CCP repo, derivatives margining, securities lending and full title transfers. The Collateral Cockpit™, which simplifies the
management of collateral and makes it visualizable and very easily plannable, offers an all-in collateral management suite: from collateral trading and allocation to mobilization. Collateral management has never been so easy and simple!
More information can be found on our website or contact us via contact.