A form of short-term borrowing for dealers in government securities, where the dealer sells the government securities to investors, usually on an overnight basis, and buys them back the following day.
For 2025, trading volumes increased 20 per cent YoY to 406.1 billion average daily term-adjusted volume, with GC Pooling and special repo up 36 per cent and 8 per cent, respectively
The platform experienced increased activity due to year-end funding dynamics, the Federal Open Market Committee decision to lower rates, and increased US Treasury issuance
The service maintains the haircut typically posted by dealers to money market funds and other cash investors in triparty while implementing a CCP lien that is applied in lieu of both a sponsor guaranty and margin posting to the CCP