The Fixed Income Clearing Corp. (FICC) has launched its Collateral-in-Lieu (CIL) service via the Sponsored General Collateral (GC) offering of BNY’s Global Collateral Platform, which introduces a way to clear repo transactions that is margin and capital-efficient, officials say. BNY Securities Finance and Federated Hermes, Inc. have executed the first repo trade on the new… Read More >>
ICBC Joins Clearstream’s Tri-party Service
The Industrial and Commercial Bank of China (ICBC) reports that it has joined the tri-party repo service of Clearstream, a Deutsche Börse Group post-trade services provider, and the firm wants this first step to be the start of a greater repo market in China. “ICBC is the first Chinese financial institution to do so, enabling… Read More >>
UBS Embraces a DLT-Based Sponsored Repo Platform
Swiss investment banking giant UBS reports that it is live on a sponsored repo solution based upon distributed ledger technology (DLT), a.k.a. blockchain technology, that was developed by provider Broadridge Financial Solutions. UBS is no stranger to Broadridge’s application of DLT to repo trades as the bank completed “its first cross-border intraday repo transaction on… Read More >>
Nasdaq Launches a Digital Assets Business & Other News
Nasdaq Establishes a Custody Solution for Digital Assets Nasdaq reports the launch of a new business that it says will “power the digital asset ecosystem.” The new business “underpins Nasdaq’s ambition to advance and help facilitate broader institutional participation in digital assets by providing trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity,”… Read More >>
