Eurepo index coming to an end 17 December 2014Brussels Reporter: Mark Dugdale
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The Eurepo index will be published for the last time on 31 December due to concerns over its usefulness.
The index, which is run by the European Money Markets Institute (EMMI) and the International Capital Market Association鈥檚 European Repo Council (ERC), was created in March 2002 as the benchmark for secured money market transactions in the Eurozone.
But the repeated departure of panel banks over the last two years has left the current number of contributors to the index at nine, meaning that its representativeness, robustness and reliability can no longer guaranteed.
鈥淲e have consulted major stakeholders who confirmed that the use of the Eurepo index in financial instruments and contracts was very limited. We therefore do not foresee a major impact on the market,鈥� commented Guido Ravoet, secretary general of the EMMI.
The EMMI and ERC are working on developing a new transactions-based repo index and hope to present the project to stakeholders in 2015.
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