Cantor Fitzgerald Introduces Safetycash, Giving Buy Side Direct Access To Repo Market

TECHNOLOGY STRATEGIES

Cantor Fitzgerald Securities Corp. has launched an online system for tri-party repurchase obligation (REPO) agreements. The system, called Safetycash, gives money managers direct access to REPO transactions from their IBM-compatible PCs via dialup phone line.Safetycash links the investor with a custodian bank -- currently Bank of New York, with Manufacturers Hanovers Trust Co. to join shortly. The third party to the deal is Cantor, which provides collateral at fixed rates. Although such prim