The move will enable its institutional investor clients to invest in a wider variety of short-end investment products that they would not previously had access too.
The hire comes at a crucial time for the exchange group as it looks to implement and roll out a number of key post-trade initiatives.
Pressures from COVID-19, regulations and changing geopolitical market trends, as well as low volumes, have forced Eurex to prioritise other activities.
The move could provide significant savings for banks that have faced increased regulatory costs to trade in the balance sheet-intensive repo market.
Set to launch in Q3 2021, the DTCC SFT clearing service would offer both direct access and a sponsored membership model to buy-side firms.
The partnership bolsters SGSS’ post-trade coverage for mid-tier broker-dealers in Europe.
BNY Mellon has centralised the leadership for the custodian’s capital markets businesses which include Pershing, Clearance and Collateral Management, and Markets.
Majority of banks and brokers will be ready for ASX blockchain-based post-trade system in 2022, says exchange
A recent consultation by the ASX on the CHESS replacement timetable, showed around 91% of CHESS users said they will be able to meet the revised go-live date.
The French custodian is working towards becoming a general clearing participant of the exchange, which is expected to be completed within the first half of 2021.