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Funding and financing

Funding and financingHolistic repo services for buy-side and sell-side clients

Deutsche Börse Group offers holistic services which help buy- and sell-side participants meet all their repo trading and post-trading needs, including collateral management and re-use for derivative margining. Corporates, asset managers and insurance companies benefit from integrated secured funding and financing solutions. All typical repo types are covered, including fixed and floating rates as well as from fixed-term to open repos. The repos can be centrally cleared by Eurex Clearing as central counterparty (CCP) while the collateral management can be performed by Clearstream.

eTriParty service

The eTriParty service brings the sell side and the buy side together via open quote triparty repo trading against standardised collateral baskets. While the trades are executed on Eurex Repo’s electronic bilateral repo trading system F7®, the triparty collateral management is provided by Clearstream. Clearstream acts as the triparty agent and customers benefit from comprehensive collateral management services, including automatic collateral allocation and real-time substitution. The collateral received can be reused to cover other exposures, for example in GC Pooling or for Eurex Clearing margining purposes.

Select Finance

The Select Finance service enables pension funds, asset managers and insurance companies to maximise the use of their assets by giving them access to Deutsche Börse’s CCP-cleared repo services. Thanks to a dedicated clearing licence provided by Eurex Clearing (ISA Direct for Repo), buy-side customers can benefit from the safety of central clearing and exposure netting against other centrally cleared business at Eurex Clearing. Select Finance gives the buy side access to the highly liquid interbank GC Pooling market. GC Pooling in turn gives the buy side access to Clearstream’s triparty collateral management. In fact, GC Pooling customers also get technical connectivity to over 600 Clearstream counterparties. This means that buy-side customers can leverage Select Finance for further triparty repo services.

Select Invest

Select Invest provides buy-side customers with a highly secure environment for cash investments via a range of four standardised collateral baskets. Customers benefit from the consolidated services of different Deutsche Börse Group entities, which cover the full cycle from trading and clearing to collateral management from a single point of access.

The service brings customers the best of Deutsche Börse Group: access to the web-based Eurex Repo electronic marketplace, the clearing services of Eurex Clearing and Clearstream’s proven settlement, custody and collateral management.