Eurex Repo extends GC Pooling ECB Basket coverage to Spanish government bonds
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Eurex Repo extends GC Pooling ECB Basket coverage to Spanish government bonds 03 October 2025Spain Reporter: Hansa Tote
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Eurex Repo now includes Spanish government bonds in the GC Pooling ECB Basket.
The GC Pooling ECB Basket is a collection of approximately 3,000 European Central Bank (ECB)-elligible fixed-income securities used in the Eurex GC Pooling market.
This is to facilitate cash liquidity trading for financial institutions and is designed to allow participants to reuse the collateral for their own refinancing operations with central banks.
Spain achieved a triple credit rating upgrade in September 2025 from Fitch, Moody’s, and Standard & Poor’s, with all three credit rating agencies having cited robust economic growth, labour market improvements, and a resilient banking sector.
Throughout September, the firms increased their ratings: Fitch raised Spain’s rating from A- to A, Moody’s upgraded from Baa1 to A3, and Standard & Poor's lifted its rating from A to A+.
With the inclusion of Spanish government bonds in the GC Pooling ECB Basket, Eurex is expanding collateral options for refinancing and margining.
The firm says this will strengthen liquidity and highlights Spain’s growing stability and credibility in European financial markets.
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