Eurex Repo launches GC Pooling Cheapest-To-Deliver (CTD) Basket

From Eurex Repo:

With its GC Pooling Cheapest-To-Deliver (CTD) Basket Eurex Repo introduced new trading opportunities to customers as of 12 August. We spoke to Manan Wagishauser, Business & Product Development, Eurex Repo, about the background of this new product and what opportunities it offers to our clients.

What is the need of having a new GC Pooling Cheapest-To-Deliver Basket and how does it fulfil this need?

When futures expiry dates are approaching investors look out for the cheapest-to-deliver bonds on the market to fulfil their delivery obligation. To avoid penalties in case of non-delivery, clearing members try to get the CTD bonds already between three to ten days prior to the delivery day. Consequently, the CTDs are warehoused and financed through their internal treasury.

The new GC Pooling CTD Basket enables clearing members to finance the CTDs in a secure and ring-fenced environment. The CTDs will be transferred on time on the delivery day to the right settlement account to fulfil the futures delivery obligations.

For more on the new CTD baskets, see Eurex Repo’s article at

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