State Street has successfully completed its first reverse repo trade with Dutch pension fund MN as its first client for the transaction type. The purchase was made possible by an enhanced service under the Eurex Select Invest Repo model.
With the enhanced service, State Street can act on behalf of its clients to faciliate the direct clearing and settlement of reverse repo transactions using a centrally cleared CCP framework via Eurex Clearing. This allows the buy-side to enjoy improved liquidity from clearing without having to meet the onboarding, operational, and custodial requirements as a direct member of a CSD.
Christian Schütze, head of Financing Solutions Continental Europe at State Street says, “The model streamlines buy-side access to the Euro‑denominated repo market and enables clients to trade independently with any of the current 170 market participants.”
