This milestone demonstrates the expansion of BNY鈥檚 intraday repo capabilities beyond the US dollar, enabling new opportunities for liquidity optimisation
The enhancement will allow LCH RepoClear clearing members to settle Dutch debt instruments within Clearstream鈥檚 fully harmonised, cross鈥慴order post鈥憈rade environment
Both firms have commenced activity with a global agency repo service, including agency trading, to support LME鈥檚 cash reinvestment activity and enhance LME Clear鈥檚 portfolio liquidity management
The rise in average daily trade volumes reflects continued institutional adoption of tokenised real asset settlement at scale and the growing role of distributed ledger technology, the firm says
The bank will join the platform for its domestic repo operations, and will join the Canadian Derivatives Clearing Corporation to centrally clear its repo operations
Through the tokenisation of workflows, counterparties will be able to reference a single source, addressing challenges in existing workflows, such as inconsistent data sources, timing mismatches, and fragmented pipelines
This builds on the Commonwealth Bank of Australia鈥檚 previous engagement with RepoClear after joining as the first Australian member of RepoClear at LCH