ITI Capital becomes the first Market-Maker on REPO transaction with CCP

Updated: Sep 5, 2018

PJSC "Moscow exchange MICEX-RTS" included shares of investment exchange traded funds, ITI Funds UCITS ETF SICAV S.A. in the list of securities for which a REPO transaction with the CCP (National Clearing Centre) is available. This is another important moment for the market with the emergence of a market maker, which previously did not carry out transactions in relation to REPO with the CCP. ITI Capital is the market-maker which stands in order book of both RUSE ETF and RUSB ETF instruments. The functions of the market maker will be executed with a REPO period of 1 day with settlements in Rubles and in US Dollars and will provide a guaranteed placement opportunity within 345 minutes of the trading session.


The REPO with the CCP is a reliable instrument for placing short-term liquidity against warranty for liquid assets. When placing funds from an investor's brokerage account, Rubles or Dollars are written off, and in return the shares of the fund are credited with a premium.


The creditor receives a double investment protection: 1) returns are guaranteed by the National Clearing Center, which has a BBB rating from Fitch and AAA (RU) from ACRA and daily instant liquidity of hundreds of billions of rubles, and 2) the value of the assets received under the transaction exceeds the amount of funds placed.


The placement occurs by placing an order in the order book of REPO with the CCP of any of the funds. Tickers: RUSE and RUSB.


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