Banks are attempting to find ways to reduce their capital-intensive repo trading activity in order to avoid penalties.
New Request-for-Quote platform to launch in Q2 this year for European market participants.
Eurex now has 28 participants signed up to the repo partnership programme including JP Morgan, Deutsche Bank and Morgan Stanley.
After connecting last month, BrokerTec clients can choose Eurex Clearing as the CCP for clearing EUR repo trades.
Major investment banks including Citigroup and JP Morgan sign up to use the Eurex clearing profit scheme for repo as Brexit looms.
Commerzbank, Deutsche Bank, JP Morgan and Morgan Stanley will sign up as early adopters of OTC FX clearing within the profit sharing scheme.
RepoClear service will help buy-side engage with cleared repo trading.
Banks are looking at alternatives to repo for short-term financing in response to stricter capital requirements.
The partnership will enable the platform to connect clients to tri-party agents and CCPs.
The platform executed its first collateral transaction on 6 October between a UK pension fund and CME Clearing Europe.