With Basel III requiring banks to hold onto more capital, those institutions are as strapped as ever. The buy side, on the other hand, is sitting on pools of cash. Broker Newedge and European bond trading platform MTS saw last April that the two could help each other.
Together they created the Agency Cash Management (ACM) electronic auction platform for the tri-party repo market. It launched in late January and has been doing deals since.
"The tri-party providers in the past mainly provided bank
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails