Repo with Central Counterparty (CCP)
FEATURES:
- Key segment of the Money Market
- The CCP (National Clearing Centre) acts as the trading participant's counterparty
- The CCP guarantees settlement of obligation to all non-defaulting parties regardless of whether obligations to the CCP have been met or not
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Interdealer repo
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Repo with the CCP
1-day repo wih the ccp – top-10 order book orders
BENEFITS
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Trading outside limits imposed on the market participants
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Minimization of required cash and securities for settlement
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Both cash and securities are accepted as collateral
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Boosting market liquidity
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Standard discounts applied
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Netting
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Reduced load on the market participant's capital
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Safe and reliable risk management
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Market repo rates for cash and securities
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Single counterparty
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Quick and convenient execution of trades
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Anonymous trading
MAIN PARAMETERS
The Central Counterparty (the National Clearing Center) is the counterparty to all trades | |
OFF-ORDER BOOK (DIRECT) TRADES | ORDER BOOK TRADES |
Settlement currency: | |
Р, $, € | |
Eligible securities: | |
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Settlement codes: | |
Y0 (T0; Y1)/Yi, where i is an amount of settlement days related to repo term from 1 day till 3 calendar months |
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Max order volume limit: | |
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Min order volume limit: | |
- |
Settlements in RUB:
Settlements in USD/EUR:
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Trading: | |
9:30 – 19:00 | 10:00 – 19:00 |
Clearing and settlement: | |
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Securities available from: | |
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Settlement instructions are not obligatory for repo with the CCP off-order book orders to be settled. If the settlement instruction has not been submitted by the start of the intra-day clearing session, the transaction status is automatically changed to Settled with the transaction included in the first clearing pool. This is optional facility as existing positions are changed after regular and special settlement instructions submitted by participants, are exercised (transactions are settled online in case of the urgent settlement instruction).
ADMISSION TO REPO WITH THE CPP
To execute REPO with the CCP:
- Open subaccount "Blocked for clearing with NCC. Collateral for trades" (subaccount code: 36) with NSD
- Post collateral for trades (in RUB and/or USD and/or securities admitted to trading without full collateral required).
ADDITIONAL MATERIALS:
CONTACT DETAILS:
Money Market Department team
Telephone: +7 (495) 363-3232, ext. 5424, 5398, 5396, 5455
e-mail: repo@moex.com