Market participants can access our facilities and operations by registering as a domestic counterparty. Domestic counterparty registration allows a broader range of market participants access to facilities and operations priced near the Official Cash Rate (OCR), without requiring an Exchange Settlement Account System (ESAS) account.
Market participants must register as a counterparty to participate in Open Market Operations (OMOs) and use the Overnight Reverse Repo Facility (ORRF), Standing Repo Facility (SRF), and the Bond Lending Facility (BLF). Applicants must be financial institutions with a regular presence in the wholesale financial markets either as a market participant or as a Financial Market Infrastructure (FMI) that contributes to the soundness and efficiency of the New Zealand financial system.
Participation in repurchase transactions offered in OMOs and available through the ORRF, SRF, and the BLF requires the execution of a 2011 Global Master Repurchase Agreement (GMRA) with us. We will process each application on a case-by-case basis.
Our ‘Operating Rules and Guidelines for Domestic Markets’ provides further information on registered counterparty applications.