May 2003
Beginner
288 pages
12h 25m
English
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that gilt repo liquidity had increased at the short end of the yield curve. It also suggested
that the benefits of central clearing and netting should include an ability for banks to
transact a greater volume of business.
6.9 Code of best practice
The Gilt Repo Code of Best Practice sets out standards of best practice for gilt repo. It was
introduced by the BoE in November 1995 ahead of the commencement of gilt repo trading
in January 1996. The Code is set out in various sections, which we summarise below.
Preliminary issues
Market participants should ensure that they have adequate systems and controls for the
business they intend to undertake. This ...