ICMA updates European repo market best practice guide with new infrastructure and trading provisions
The International Capital Market Association (ICMA) has published an updated version of its European Repo and Collateral Council (ERCC) guide to best practice in the European repo market. This comprehensive update introduces new guidance across several critical areas, including: trading infrastructure resilience; central securities depository outage management; template agreement for bilateral pair-offs; sanctions compliance and; automated trading systems operations. The update also addresses emerging market developments with provisions for liability-driven investment pension fund repo portfolio transfers and buy-outs.