Broadridge looks to transform repo trading with launch of new blockchain-based platform
The new platform utilises smart contracts and distributed ledger technology, a move that could potentially transform the repo market.
The new platform utilises smart contracts and distributed ledger technology, a move that could potentially transform the repo market.
ICMA research found that while demand for repo increased, dealers’ capacity to intermediate was constrained and limited access to many firms that needed it.
Banks are attempting to find ways to reduce their capital-intensive repo trading activity in order to avoid penalties.
New Request-for-Quote platform to launch in Q2 this year for European market participants.
Eurex now has 28 participants signed up to the repo partnership programme including JP Morgan, Deutsche Bank and Morgan Stanley.
After connecting last month, BrokerTec clients can choose Eurex Clearing as the CCP for clearing EUR repo trades.
Major investment banks including Citigroup and JP Morgan sign up to use the Eurex clearing profit scheme for repo as Brexit looms.
Commerzbank, Deutsche Bank, JP Morgan and Morgan Stanley will sign up as early adopters of OTC FX clearing within the profit sharing scheme.