Swiss broker to set up London repo venue
Tradition, the Swiss interdealer broker, is looking to reinvigorate Europe’s struggling “repo” market with a new electronic trading venue where pension funds and corporations can pawn high-quality assets for cash.
The venue, called DBV-X, is aiming to supplement the role played by banks, which have historically used the repo, or repurchase, market for cheap financing by temporarily lending their assets to investors in exchange for short-term loans.
The full article is available here: http://on.ft.com/1eaoUsh