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Open to everyone
11-12 July 2024
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Date: 11 – 12 July 2024
Time: 09:00 – 17:30 BST
5 Broadgate, London EC2M 2QS

Hosted by


The Professional Repo Market and Collateral Management Course (PRMCMC) is the industry’s flagship educational event. It has been run by the European Repo and Collateral Council (ERCC) of ICMA since 2015. PRMCMC-24 will be hosted in London by UBS.

The PRMCMC offers an unrivalled exposition of what a repo is and is not, and how it is managed, as well as insight into the structure, operation and regulation of the repo market, including new developments. The course is delivered by ICMA’s industry experts and market practitioners from member firms.

While expressly designed for new or junior repo dealers in sell-side or buy-side institutions, the industry-led nature of the PRMCMC also attracts attendees from a wide variety of other functions and levels of seniority within financial institutions, as well as from financial market infrastructures, third-party service-providers, systems vendors, legal and accounting firms, regulators and central banks from around Europe and beyond. The course is therefore an opportunity for junior dealers to network their peers and experienced practitioners, and for all attendees to mix with those involved in different areas of the repo industry.



This event is open to all.

Members: EUR 350 (+ VAT if applicable)
Non-members: EUR 600 (+ VAT if applicable)

(Please note that payment can only be made by credit card)

Contact us

Certificates of Attendance are available on request, provided minimum attendance requirements (80% or more) have been met.

If you have any questions, please contact ICMA Education & Training

Thursday 11 July

09:00   Introduction to repo: Legal and economic character
10:25   GC vs special repo
10:50   Break
11:15   Some alternative repo structures
11:40   Why repo documentation should not be left to lawyers
12:10   Risk management and mitigation - haircuts, netting
12:40   Lunch
13:40   How repo are used with bonds
14:25   How repo are used with interest rate swaps
15:25   Break
15:50   How repo are used with bond futures

Friday 12 July

09:00   Emerging market repos
09:35   Credit repos
10:10   Break
10:35   European repo market infrastructures
11:30   Tri-party repo
12:10   Lunch
13:05   CCP-cleared repo
14:00   Sponsored, indemnified and guaranteed repo
14:30   New developments: Islamic, ESG/green and digital repo
15:30   Break
15:55   Impact of Basel 3.1 on repo (RWA, Leverage Ratio, FRTB)
16:40   Impact of LCR and NSFR on repo
17:30   Event close
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