Rapid-fire repo raises hopes of cheaper, faster trading
Tokenized Treasuries piloted by DTCC could squash settlement cycles and enable 24/7 repo.
This article is the second in a three-part series on tokenized US Treasuries.
Cash is an essential lubricant for the trading activities of hedge funds and prop trading firms. Liquid, fungible, readily accessible: cash is the grease in the gears of leverage.
Cash is also inefficient. It hogs space on the balance sheet, earning no return and often sitting idle.
If only there was a way for trading firms to hold interest-bearing assets that could be instantly converted into cash, and back again, at any
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