ICMA survey reveals 13.1% decline in APAC repo market
The survey reveals a total outstanding value of $269.1 billion and an average daily turnover of $12 billion across the APAC non-Japan region, marking a 13.1% decrease from 2022 figures.
The survey reveals a total outstanding value of $269.1 billion and an average daily turnover of $12 billion across the APAC non-Japan region, marking a 13.1% decrease from 2022 figures.
The new service, due to go live on 14 March, has been developed with Euroclear Bank and has support from ICMA and ICMSA.
With the introduction of cash penalties for settlement fails under CSDR coming into force, the International Capital Market Association (ICMA) has published the results of two workstreams in the form of a discussion paper on “Optimising settlement efficiency”.
The spike in settlement fails during this period could further encourage the industry to increase calls for regulators to reconsider a delay to the CSDR buy-in regime
Research from ICMA found that while demand for repo increased significantly dealers’ capacity to intermediate was constrained and limited access to many firms that needed it.
The group of 20 industry bodies have said the outbreak has resulted in a significant delay for both custodians and buy-side firms in carrying out heavy onboarding tasks
ISLA and ICMA write to regulators appealing for delay due to Coronavirus pandemic.
Asset managers and pension funds have expressed concerns the CSDR mandatory buy-in regime will impact liquidity and increase costs.