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Deutsche Börse offers index for secured money market

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Deutsche Börse has added an index for the short-term interest rate market to its product offering, called the GC Pooling EUR Overnight Index.

Deutsche Börse has added an index for the short-term interest rate market to its product offering, called the GC Pooling EUR Overnight Index.

It is Deutsche Börse’s first index for money market trading based on secured money market transactions in the EUR GC Pooling market.

The index represents a volume-weighted average of all interest rates from overnight transactions in the GC Pooling ECB basket concluded on the same day.

The GC Pooling ECB basket is a standardized collateral basket comprising more than 8,000 eligible securities. These can also be pledged as security for open market transactions with the European Central Bank.

‘The GC Pooling market has established itself as the benchmark for short-term financing in the euro area, particularly in a turbulent market environment. This trend will be boosted further by the addition of the new GC Pooling EUR Overnight Index as reference rate,’ says Hartmut Graf, head of issuer data and analytics at Deutsche Börse.

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