Strong growth in the European repurchase agreement market and a developing share of electronic trading has emerged from figures from the International Securities Market Association, published last month.

The total value of repo contracts outstanding in 84 participating institutions was €4 trillion ($4.5 trillion), up 17.1% from e3.3 trillion recorded in June 2002. At the same time, the survey revealed that the share of electronic trading grew strongly, accounting for 18% of the total value of all repo trading at June 30, compared with 12.7% last year.