This paper investigates the structure of the euro-area repo market and the role of its key participants, with a focus on primary dealers, drawing on granular data collected under the Securities Financing Transactions Regulation. We document structural features of the market. Outstanding volumes are almost evenly split between centrally cleared and non-centrally cleared segments, which differ markedly in participant composition, maturity structure, and trade characteristics. Within the non-centrally cleared segment – less explored yet systemically relevant – we identify a stable core-periphery network where primary dealers act as central nodes, connecting peripheral entities, such as non-bank financial institutions and non-dealer banks. […]