Repos

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This overview is a guide to the Banking & Finance content within the Repos subtopic, with links to appropriate materials.

Repurchase transactions, known as 'repos' are financial arrangements which are used in the international financial markets by financial institutions and corporate bodies. They use industry standard documentation published by the Securities Industry and Financial Markets Association (SIFMA) and the International Capital Markets Association (ICMA).

Repos—repurchase transactions

Structure of a repo transaction

A repo (the market term for 'repurchase transaction') is a type of financial instrument that involves the sale of an asset by one party (the 'seller') to another party (the 'buyer') with a simultaneous agreement between the parties that the seller will repurchase the asset from the buyer at a future date for a specified price.

Strictly speaking, any asset that is capable of being transferred from one person

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Latest Banking & Finance News

ISDA announces July 2025 launch of new derivatives notices platform

The International Swaps and Derivatives Association (ISDA) has announced the launch its new Notices Hub platform on 15 July 2025, addressing critical challenges in delivering derivatives termination notices. The platform aims to replace physical delivery requirements in ISDA Master Agreements, solving problems that emerged during pandemic lockdowns and the Ukraine invasion when office closures and safety concerns made physical delivery difficult. The platform will feature secure online delivery, automatic alerts to designated recipients, and the ability to update physical address details across all agreements through a single entry. The service will be free for buy-side firms, with dealers receiving a two-year discount for early adoption. ISDA has opened a free pre-adherence process for firms to sign the protocol updating their agreements. The platform will also allow for the exchange of waivers, such as those for net asset threshold events, bringing structure to what has traditionally been an ad hoc process.

LSE publishes first round of ISM Rulebook amendments for 2025

The London Stock Exchange (LSE) has published Market Notice N06/25, confirming amendments to the International Securities Market (ISM) Rulebook, following its initial consultation (Notice N03/25 from 29 May 2025). These changes, which take effect on 30 June 2025, will clarify existing requirements for expert statements and extend guaranteed bond structure provisions to sukuk instruments (Islamic finance). This consultation marks the first of two planned for 2025, with a second consultation expected to discuss alignment with the Financial Conduct Authority’s new Prospectus Rules. Market participants have responded positively to these technical clarifications. The updated ISM Rulebook will be available on the LSE website from 30 June 2025.

ICMA Principles Committee publishes nature bonds guide and updates sustainable finance guidance

The Executive Committee of the Green, Social, Sustainability and Sustainability-Linked Bond Principles (the Principles), supported by the International Capital Market Association (ICMA), published new guidance. The main publication, ‘Sustainable Bonds for Nature: A Practitioner's Guide’, provides the framework for nature-related bond issuance across both public and private sectors. The Committee also released updates to existing guidance including: revised Green Bond Principles, new checklists for green enabling projects, expanded key performance indicators and consolidated allocation reporting guidance. The Principles serve as voluntary standards for the US$6trn sustainable bond market and are referenced by 98% of sustainable bond issuers.

Banking and Finance weekly highlights—26 June 2025

This week's edition of Banking and Finance weekly highlights includes: (1) the government announces consultation on amending NSIA foreign direct investment regime as part of Modern Industrial Strategy; (2) three consultations are launched by the government to modernise the UK sustainability reporting framework; and (3) the Commission proposes reforms to EU securitisation market.

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