Deutsche Börse's post-trade arm, Clearstream, and front office tech vendor 360T have announced the launch of a tri-party repo service that combines the former's collateral management capabilities with the latter's trading systems.
Buy-side clients of 360T's multi-asset, multi-bank platform will be offered the service, which operates in cooperation with Clearstream's Global Liquidity Hub. Clearstream will then facilitate the tri-party repo administration with general collateral baskets. The service is aimed at producing high rates of straight-through processing (STP) for automated repo administration and settlement.
"With the seamless integration of the 360T trading platform and the Global Liquidity Hub, we will enable our clients to benefit from a single trading venue for electronic trading. Moreover the whole product life cycle from price discovery to execution and settlement will be faster, more reliable and fully STP-supported", says Carlo Kölzer, CEO at 360T. "360T is pleased to cooperate with an industry primus like Clearstream. We are sure that the new service will meet the demands of our clients to handle their collateralized deposits efficiently."
More from Buy Side Technology
Updating your subscription status
Voting now open -- WATERS RANKINGS 2013
Our 11th annual survey is now open and you get the chance to choose your best solutions and technology providers. Waters Rankings 2013 features 26 hotly contested awards - so have your say.
21 May 2013
21 May 2013
19 Jun 2013
27 Jun 2013
Complex, dated and unwieldy data infrastructure is not uncommon among even the most progressive companies in the world of finance. As financial regulations...
With the launch of a new legal entity identifier (LEI) looming, the financial services industry needs to get ready to ensure efficient and timely implementation...