Deutsche Börse offers new index for the secured money market

Deutsche Börse offers new index for the secured money market - Launch of GC Pooling EUR Overnight Index for secured money lending

16/06/09

Deutsche Börse has added a new interest rate index for the short-term interest rate market to its product offering - the GC Pooling EUR Overnight Index (GCPI). This is its 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 (DE000A0AE077) 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 (ECB).

“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 (GCPI) as reference rate,” said Hartmut Graf, Head of Issuer Data & Analytics at Deutsche Börse.

The GC Pooling EUR Overnight Index is calculated every day at 6 p.m. CET.