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Eurex and Clearstream have launched a new collateral basket on the GC Pooling market, Eurex Repo’s secured money market segment. This new basket extends the trading possibilities for the 28 market participants already active in this market.
In 2008, GC Pooling’s volumes reached new records with a daily peak at EUR 61.4bn for average outstanding volume at the end of 2008. Overall volumes tripled in 2008 and totalled EUR 41.7 billion. GC Pooling offers a direct link to open market operations of the European Central Bank (ECB), as well as an integrated central clearing via Eurex Clearing which mitigates counterparty risks.
The EXTended Basket covers more than 23,000 eligible securities listed in the ECB’s Eligible Asset Database (EAD) that fulfil the risk management requirements of Eurex Clearing AG, the integrated central clearing counterparty. The EXTended Basket complements the Euro GC Pooling basket launched in September 2007 which is composed of 8,000 government or supranational backed securities. The EXTended Basket also includes corporate bonds accepted by the ECB but excludes Asset Backed Securities (ABS) and Mortgage Backed Securities (MBS).