The International Capital Market Association (ICMA) Ltd announces that European Credit Management Ltd (ECM), a buyside firm, has commenced live matching of repurchase agreements (repo) with UBS for the first time via TRAX2.
“ECM is very proud to be the first buyside company to go live with TRAX2 Repo,” says Robert Galione, Head of Operations, European Credit Management Ltd. commented. “This is a major step forward for the risk management of our exponentially increasing repo book. We look forward to all our counterparties coming on board soon”.
TRAX2 is the post- trade, pre-settlement, trade matching & regulatory confirmation system for the OTC market. It processes all financial instruments/asset classes and is now available to both the sell side and buy side.
“UBS is pleased to have partnered with ECM on TRAX2 and looks forward to welcoming more buy-side clients on to the platform,” says David Daniell, Fixed Income Operations Manager, UBS.
“ICMA are delighted that the buy and sell side are now actively matching in real time via TRAX2,” says Kevin Milne, Managing Director, ICMA Ltd. “We look forward to announcing more market participants as they go live with this new repo functionality in the near future”.