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RepoFunds Rate ("RFR") is a series of daily euro repo benchmarks comprising RFR Euro, RFR Austria, RFR Belgium, RFR Finland, RFR France, RFR Germany, RFR Italy, RFR Netherlands, RFR Portugal and RFR Spain. The benchmarks are calculated from trades executed on either the BrokerTec or the MTS electronic platforms. All eligible repo trades are centrally cleared and RepoFunds Rate is calculated and published by CME Group Benchmark Administration.
Each benchmark is calculated with repo trades that use sovereign government bonds as collateral. Trades using sovereign bonds issued by any Eurozone country are eligible for RFR Euro. Country-specific RFR benchmarks are calculated with trades using sovereign bonds issued by the relevant country only. All benchmarks are denominated in euros.
Euro Repo Market
Repo transactions are used for borrowing and lending on a secured basis and for financing and covering bond positions. Overall daily volumes in eurozone sovereign repos typically exceed €300 billion (single count), with volume being split between general collateral and specific collateral repo trades.
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By including both general collateral and suitable specific collateral repo trades, RepoFunds Rate provides a unique insight into current repo rates and market volumes and reflects the overall cost of funding achieved by the market.
Benchmark Governance
RepoFunds Rate is registered as a regulated data, non-significant benchmark under the EU Benchmarks regulation and CME Group Benchmark Administration is the registered benchmark administrator.
The administrator operates to a full oversight committee as the RepoFunds Rate oversight function. The committee provides an independent challenge to the integrity of the benchmark.
RepoFunds Rate commercial policy
To view the data in real time or for commercial usage of RFR a license is required, please see the RFR pricing guide and contact indices@nexdata.com with any questions you may have.
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