Euronext today announced the launch of the REPO Foundation, the first phase of a long -standing strategy to expand access, improve the effectiveness of the margin, and challenge Europe’s secure financial markets.
The RepO expansion initiative sets Euronext’s vision to build a fully integrated, pan -European infrastructure after trade.
Based on over 25 years as a top CCP for repos in Italian government bonds, this expansion marks the start of a gradual development that will extend access to international participants and introduce new European debt benefits in all European debt markets.
The Repo Foundation marks a central expansion of Euronext Clearing capabilities, the opening of guaranteed funding services to international counterparties and the introduction of basic improvements to margin effectiveness, risk management and safeguarding.
With the REPO Foundation, Euronext now offers a REPO liquidation for Spanish, Portuguese and Irish government bonds, along with its established Italian offer. For the first time, international companies can participate in the platform-whether through existing Euronext connections or as participants only in RepO-with seamless work on boarding and scalable settlement.
In the third quarter of 2025, the coverage will be expanded to include French, German, Dutch and Belgian government bonds, as well as European supernatural versions.
In the fourth quarter of 2025, Austrian and Finnish government bonds will be added, complementing the initial expansion of Euronext’s dominant coverage.
By 2026, customers will also gain access to competitive and liquid general insurance baskets (GC), manufactured with a leading Triparty Agent (TPA), with risk -related risk offenses. Customers will benefit from the intersection of debit means within a margin account (subject to the approval of regulations)-improving capital and risk management in accordance with global expectations for marginal transparency and proximity controls.
These improvements are part of a wider effort to provide tangible margins, with a redesigned risk model and up -to -date margin methodologies that offer significant costs over inheritance clearance models.
To expand market participation, Euronext Clearing will introduce an access model that grants the second quarter of 2026. Sponsorship access will support greater liquidity, improve the risk management management and help businesses meet the evolving regulatory and capital requirements.
Until the third quarter of 2026, the RepO expansion initiative will enter into force – allowing customers to access full functionality, product coverage and uppercase. This progressive expansion utilizes Euronext’s established liquidation network and supports rationalized during fixed income markets.
A key pillar of the RepO institution and the wider RepO expansion initiative allows for more efficient use of collateral. This involves expanding the eligible assets, with coins such as USD, GBP and NOK available from launch and further extension planned – to give customers greater flexibility in the way they meet the margins requirements.
Completing this, Euronext will also introduce a new Triparty Agent model (TPA), starting with Euroclear in the third quarter of 2025 and will follow Clearstream in the fourth quarter of 2025. Additional strategic alliances will follow.
These consolidations are designed to rationalize settlement, reduce business weight and providing real-time mobility, while maintaining capital performance while maintaining full compliance with regulatory regulations.
These improvements are part of a broader effort to provide tangible margins, with a redesigned risk model and up -to -date margin methodologies. Euronext expects increased immigration of activity to the new liquidation model, as market participants are looking for more efficient and scalable solutions.