EBS BrokerTec, ICAP’s ISS Launch New Sterling Index Rate

[kreslik.news]

EBS BrokerTec, EBS BrokerTec, ICAP’s electronic foreign exchange (FX) and fixed-income business unit, along with ICAP Information Services (IIS), its information arm, has collectively launched a new Sterling Repo Index Rate (£RIR), according to an ICAP statement.

The new £RIR index measures the effective cost of funding for Sterling Government bonds, which will be calculated and disseminated by IIS on a daily basis. £RIR works by utilizing select one-day repo trades executed across the BrokerTec Market electronic central limit order book for the fixed income markets and centrally cleared through a central counterparty clearing house (CCP).

In particular, the £RIR index is ... (read more)