By Owain Johnson
The European repo market has held up well amid the initial volatility created by the economic slowdown caused by COVID-19, according to a new report issued by the International Capital Markets Association ((ICMA)).
Activity on European repo has increased in recent weeks, the ICMA notes. CME Group’s BrokerTec platform, which handles the majority of European repo activity, experienced higher than normal transaction flows, with March volume averaging €284.7 billion per day and a new record of €319 billion set on March 11. An ICMA survey of repo providers also reported that the