ICMA’s European Repo Council (ERC) is publishing revisions to its Guide to Best Practice in the European Repo Market. The Guide to Best Practice in the European Repo Market (Guide) sets out standards for the orderly trading and settlement of repos.
The revisions to the Guide were motivated in part due to the need to provide clarity on some of the existing provisions (e.g. negative rates floating rate coupons etc.), given queries, comments and feedback that we have received from repo market participants. Moreover, when the Guide was originally published in March 2014, it had always been the intention to incorporate the Margining Guidelines in the main text of the document rather than the Guidelines existing as an annex.
The effective date of this latest version of the ICMA ERC Guide to best practice in the European Repo Market is 27 July 2015.
The revised Guide to Best Practice in the European Repo Market can be accessed here.
We have also set up an archive page where the March 2014 version and the October 2014 amendments can be viewed.