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."
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