The International Capital Market Association announced that Phase 2 of its Common Domain Model (CDM) for repo and bonds development has been completed. Repo product features and workflows modelled in phase 2 to support automation of open repos, floating rate repos and evergreens. This follows phase 1 which focused on the execution, clearing and settlement of fixed term repos with a fixed rate and settlement of a bond transaction.
The CDM helps market participants, market infrastructures and technology providers speed up the process of moving from concept to implementation based on industry consensus.