Article summary
The European Repo and Collateral Council (ERCC) of the International Capital Market Association (ICMA) has published the outcomes of its 47th semi-annual European repo market survey, revealing a record outstanding value of €11.11trn as of June 2024 with a 7.1% year-on-year growth to €11,114bn. Key findings of the survey include: a receding net reverse repo position; recovery in cash-driven repo; contraction in automatic trading systems and CCP-clearing; progress in dealer-to-customer automated trading platforms; significant surge in the share of US dollar and US Treasuries; changes in tri-party repo allocations; continued advancement in floating-rate repo share; and enhanced maturity transformation in the market.
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