By integrating CO:RE trading platform into the MDDX feed of SIX Swiss Exchange, trading data becomes accessible to a broad audience of money market participants through data vendors, enhancing transparency and connectivity in the repo market.
The repo market, a cornerstone of global financial systems, facilitates secured borrowing and lending, contributing to liquidity management, regulatory compliance, and efficient market functioning. By integrating CO:RE data into MDDX data feed, SIX takes a major step in enabling money market stakeholders worldwide to access critical repo market insights.
The CO:RE platform is a multi-currency trading hub connecting over 160 counterparties with an Average Daily Volume of CHF 25bn. It supports primary auctions, liquidity management, and risk reduction through advanced collateral management tools. With 14 currencies already traded on CO:RE, the platform’s growth underscores its importance for both domestic and international market participants.
New Data Packages on MDDX:
To facilitate this global expansion, SIX introduces the following CO:RE data packages via MDDX data feed:
- CO:RE Interbank Detailed Quote Book Data (Package Code: CORE-DOB): Real-time updates of individual quote changes.
- CO:RE Interbank Post-Trade Data (Package Code: CORE-POST): Comprehensive data on public quote executions.
These packages are accessible for and from data vendors under the Market Identifier Code (MIC) “XREP”. During the initial rollout phase, data vendors can deliver this information to subscribers free of charge, including non-display usage.
A Strategic Milestone
This new data offering represents a strategic milestone for SIX, enhancing its data distribution capabilities and reinforcing its role as a leading provider of market infrastructure. The new integration enables market participants to:
- Gain real-time access to actionable repo market data.
- Enhance liquidity management and regulatory reporting.
- Leverage advanced analytics for better decision-making.
Unlocking New Opportunities for Market Participants
The availability of the SIX Repo Interbank Market data on MDDX solidifies SIX commitment to innovation and exceptional data distribution for the Swiss capital market. By enabling broader access to repo market information, SIX empowers financial institutions to optimize their operations and navigate an increasingly dynamic financial landscape.
Source: SIX
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