Banks are attempting to find ways to reduce their capital-intensive repo trading activity in order to avoid penalties.
Having launched in the summer of last year, TreasurySpring has already issued more than $1 billion of its Fixed-Term Fund (FTF) to over 25 clients.
The MarketAxess trade confirmation engine aims to reduce risks and provide greater post-execution control by automating the process.
SIX’s Collateral Cockpit will link fragmented front and back-office systems and provide control over collateral management functions.
State Street expects buy-side clearing of repo financing to increase significantly among mutual funds and money markets funds in the US.
DTCC recently broadened the category of market participants accessing the Fixed Income Clearing Corporation’s (FICC) cleared repo service.
Industry welcomes consultation paper which addresses which securities financing transactions will be reportable for incoming regulation, among other aspects.
The transaction immediately follows the recent regulatory approval for DTCC to expand the DTCC its sponsored service clearing programme.
Eurex now has 28 participants signed up to the repo partnership programme including JP Morgan, Deutsche Bank and Morgan Stanley.
The two associations found that post-crisis regulations have had a profound impact on banks’ SFT businesses and could detrimentally impact the securities lending market.