Eurex says that the German Finance Agency has started trading on the Eurex bond and repo platforms. The admission of the Finance Agency, the debt management office of the German government, brings the number of participants currently on Eurex Bonds to 23 banks and trading houses and 15 on Eurex Repo. Further international financial institutions are in the pipeline for both platforms, Eurex said.
The Bundesbank has been active on the platform since the launch of Eurex Bonds in October 2000, but Eurex make sno secret of its delight that the Finance Agency is participating, seeing it as affirmation of the quality of its bond and repo market platforms at the highest level. The Finance Agency had announced in January that it would participate in Eurex Bonds, but its participation in repo as well is seen as another step towards establishing Eurex as aforce in electronic repo trading in Europe. Clearing services are provided to both by Eurex Clearing AG.
Since the beginning of the year, Eurex Bonds has also been offering, in addition to German government bonds, issues of the KfW (Kreditanstalt fr Wiederaufbau), the European Investment Bank and individual German states, as well as jumbo Pfandbrief issues, for trading and clearing. Eurex Repo has become the main European marketplace for euro repo trading in German government bonds and jumbo Pfandbrief issues as GC.