NYSE Liffe Teams with DTCC on New Repo Trading
NYSE Euronext's futures arm, NYSE Liffe, has announced a new line of futures trading based on the Depository Trust and Clearing Corporation's (DTCC) General Collateral Finance (GCF) Repo Index, to begin on July 16th of this year with regulatory approval.
The $400 billion repo market, to be licensed to trade on NYSE Liffe and cleared by New York Portfolio Clearing (NYPC), is tracked on DTCC's GCF index by following the average interest paid each day for the most active US repo trades, which includes fully-collateralized transactions in treasuries, agency, and agency mortgage-backed products.
"GCF Repo Futures offer the industry a new and more reliable short-term interest rate benchmark for market participants to precisely hedge critical business risks. Based on an index of actual, fully collateralized and centrally cleared financing transactions, we expect these products to quickly become a fundamental tool for the management of short term interest rate risk," says Tom Callahan, CEO of NYSE Liffe U.S.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
The murky future of buying or building trading technology
Waters Wrap: It’s obvious the buy-v-build debate is changing as AI gets more complex, but Anthony wonders how trading firms will keep up.
FactSet lays out trading roadmap post LiquidityBook deal
The software and data provider announced it was buying LiquidityBook this month, filling a gap in its front-office suite of solutions.
BlackRock tests ‘quantum cognition’ AI for high-yield bond picks
The proof of concept uses the Qognitive machine learning model to find liquid substitutes for hard-to-trade securities.
The future of trading takes shape
The future of trading across the capital markets and the drivers likely to shape the ever-evolving industry
On GenAI, Citi moves from firm-wide ban to internal roll-out
The bank adopted three specific inward-facing use cases with a unified framework behind them.
FactSet-LiquidityBook: The buy-side OMS space continues to shrink
Waters Wrap: Anthony spoke with buy-side firms and industry experts to get a feel for how the market is reacting to this latest tie-up.
Examining Cboe’s lawsuit appealing SEC’s OEMS rule rejection
The Chicago-based exchange has sued the regulator in the Seventh Circuit Court of Appeals after the agency blocked a proposed rule that would change how Silexx is classified.
Lucrative market data deal with LSEG fuels Tradeweb’s record quarter
The fixed-income trading venue realized gains from its 2023 deal with the London Stock Exchange Group, amid soaring revenues from market data providers industry-wide.
