Repo Trading Solutions

Repo Trading Solutions

A Fully Integrated Value Chain for Trading and Collateral Management

A Versatile Multi-Currency Repo Market

The Swiss Repo Market is a sophisticated multi-currency platform that enables banks, broker-dealers, insurers and commercial banks to increase efficiency, reduce risk and manage costs. It seamlessly integrates trading and collateral management, connecting you to over 160 counterparties for optimized risk control and regulatory compliance.
Both central bank and commercial bank funds are accessible, as well as access to the Swiss National Bank's primary market for money market instruments.
As a triparty repo market, SIX acts as a neutral triparty agent (TPA) for both parties, offering comprehensive services from trade initiation to trade settlement.

Collateral received is fully reusable, facilitating transfers between custodians and collateral markets throughout the life of the transaction. The Swiss repo market provides a strategic financial landscape where efficiency and control converge.

How You Will Benefit

Providing Repo Trading with the SNB

SIX is the Swiss National Bank’s trusted provider of repo trading capabilities.

Multi-Currency Repo Trading

Carry out repo transactions in 14 currencies.

Advanced State of the Art Systems

Gain hands-on experience with the CO:RE trading platform and the Collateral Cockpit.

Fully Integrated Value Chain

Reduce your operational risk thanks to our integrated value chain.

The Role of the Triparty Agent (TPA)


SIX is responsible for the settlement and administration of repo transactions submitted to the TPA via the CO:RE trading platform or OTC. The TPA is responsible for the simultaneous exchange of cash and collateral at the settlement date of the repo transaction, the mark-to-market valuation of the cash and securities collateral exchanged and the calculation of the net risk exposure per counterparty in order to determine the margin requirements.

The TPA is also in charge of securities valuation, eligibility and margin monitoring, and delivery versus payment (DVP) settlement. Comprehensive reporting from trade to settlement is available.

Streamlined Access to the Interbank Repo Market

Access to a Wide Range of Repo Participants

One of the reasons the buy side is increasingly using triparty repos is the reduction of the administrative burden previously associated with repos. In the past, customers had to sign many bilateral agreements with different counterparties. SIX has greatly simplified this process through a unilateral master agreement for triparty repo transactions.

The unilateral master agreement gives the buy side instant access to 160 counterparties that have also signed under the same agreement. The job of a treasury department is further simplified through standardized collateral baskets that make it easy to get started in triparty repo.

Access to the Swiss National Bank

In May 1998, the SNB chose SIX as its partner for the Swiss money market. The job of a treasury department is further simplified through standardized collateral baskets that make it easy to get started in triparty repo.

OTC Spot Market

The OTC spot market on CO:RE allows participants to engage with the SNB by participating in primary auctions or by trading auctioned money market paper with each other.

CO:RE Trading Platform

From trading right through to collateralization. SIX provides financial market participants with a multifunctional, electronic trading platform offering access to liquidity via CO:RE, the central point of entry.

The CO:RE trading platform is operated by SIX Repo Ltd which is a regulated MTF. The platform also supports trading with the SNB.

Read the Factsheet

Learn how you can benefit from our integrated CO:RE solution.

Repo Trader Training & Examination


Only authorized traders may use the  SIX Repo AG platform. This training course is intended for all repo traders who want to acquire this professional qualification and it serves as a preparation for the subsequent trader examination.