HSBC Continental Europe has been onboarded as a second agent member for the repo sponsored clearing ecosystem, with PGGM extending its activity on the platform
The firm says the initiative will allow for enhanced liquidity and collateral mobility, bridging the gap between digital securities and the core of European central bank money operations
Stablecoin infrastructure firm HIFI provided the cash leg of the transaction against US Treasuries supplied by trading platform DRW, while Marex acted as prime broker