<center>[How to get a Hive Account](https://leofinance.io/@leoglossary/leoglossary-how-to-create-a-hive-account)</center>
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The **General Collateral Finance (GCF) Repo Market** is a blind brokered interdealer [market](https://leofinance.io/@leoglossary/leoglossary-market).  This means the dealers involved in the [transactions](https://leofinance.io/@leoglossary/leoglossary-transaction) are unaware of the participants.  All [trades](https://leofinance.io/@leoglossary/leoglossary-trade) are arranged by interdealer [brokers](https://leofinance.io/@leoglossary/leoglossary-broker-dealer) that preserve the participant's anonymity.

[Financial institutions](https://leofinance.io/@leoglossary/leoglossary-financial-institution) involved in this market can only utilize [securities](https://leofinance.io/@leoglossary/leoglossary-security) that settle on the [Fedwire Securities Service](https://leofinance.io/@leoglossary/leoglossary-fedwire) as [collateral](https://leofinance.io/@leoglossary/leoglossary-collateral).

The clearing bank [settles](https://leofinance.io/@leoglossary/leoglossary-settlement-financial) all trades by using tri-party repo [infrastructure](https://leofinance.io/@leoglossary/leoglossary-infrastructure-computer).

For dealers, the GCF market has several functions: 

* Some use the market for a substantial share of their inventory financing, on
an ongoing basis. 
* Dealers can also use GCF [repos](https://leofinance.io/@leoglossary/leoglossary-repurchase-agreement-repo) to fine-tune their financing at the end of the day, lending [cash](https://leofinance.io/@leoglossary/leoglossary-cash) if they have secured more financing than they need or borrowing cash if they are short. 
* GCF repos is used for collateral upgrades, borrowing cash against agencies’ MBS collateral and reinvesting the cash against Treasury securities. They may choose to do this because it is easier to [finance](https://leofinance.io/@leoglossary/leoglossary-finance) Treasury securities than agency [MBS](https://leofinance.io/@leoglossary/leoglossary-mortgage-backed-security-mbs) outside of the GCF market or because they need to make a pledge to a central [counterparty](https://leofinance.io/@leoglossary/leoglossary-counterparty) that accepts only [Treasuries](https://leofinance.io/@leoglossary/leoglossary-us-treasuries) as collateral. 

A great portion of the overall the repo market is [general collateral](https://leofinance.io/@leoglossary/leoglossary-general-collateral-repo-market).




* [LeoGlossary Main Menu](https://leofinance.io/@leoglossary/leoglossary-main-menu)

#### General:

* [What Is Leofinance](https://leofinance.io/@leoglossary/leoglossary-what-is-leofinance)

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