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Swiss Exchange Operator to Run Nation’s Repo Market

SIX Group, operator of the Swiss stock exchange, will run the nation’s market for repurchase agreements, or repos, from May 2014 instead of Deutsche Boerse AG’s Eurex unit.

The Swiss franc-denominated market for short-term loans, which the Swiss National Bank uses to conduct its open-market operations, is currently run by the Eurex derivatives exchange on a platform developed by SIX. Eurex was previously jointly owned by SIX and Deutsche Boerse and SIX sold its stake to the Frankfurt-based company in 2012.