Clearstream has partnered with Consort1, a fintech specialising in repo and securities lending, to enable the placement of secured deposits as tri-party custody agent. The placement was done in collaboration with Standard Chartered Bank, NatWest, Alpha Group, BankClarity, and Arlingclose, with Gloucestershire County Council being among the first UK local authorities to use the new…
Category: Capital Markets
TMF hires global head of cap markets
TMF Group, the Netherlands-based provider of compliance and administrative services, has appointed Cliff Pearce as global head of capital markets. Pearce joins from Intertrust, where he was global head of capital markets services. He reports to Daniel Max, head of global solutions.
More users join Broadridge’s DLR
DRW, Société Générale and another bank have executed intraday repo transactions on Broadridge’s Distributed Ledger Repo (DLR) platform. These latest transactions follow DLR’s first intraday repo transaction in April 2023 and expand the user network.
State Street hires global head of agency SL
Patricia Hostin has been appointed as global head of agency securities lending at State Street. Hostin will report to Gino Timperio, global head of financing solutions. Hostin joins from BlackRock, where she was most recently managing director for its financial resource management, where she executed the firm’s global strategy for optimising capital and balance sheet…
Komainu launches collateral management service
Komainu, the C.I.-based digital asset custody service provider that is backed by, amongst others, Nomura, has launched a collateral management service, Komainu Connect. The offering is live with a selection of clients, enabling leverage of their digital assets in collateralisation trades whilst they remain in secure, regulated custody, segregated and verifiable on chain. Komainu Connect…
UBS executes first intraday repo on DLR
UBS and an Asian bank have executed the first cross-border intraday repo transaction on Broadridge’s blockchain-enabled Distributed Ledger Repo (DLR) platform. The platform provides a utility where market participants can agree, execute, and settle repo transactions, providing flexible settlement cycles based on counterparties’ needs. The DLR Repo platform significantly increases settlement velocity and collateral mobility,…
Pirum builds key account team
Pirum, the UK-based fintech specialising in securities finance, has hired Sarah Young as a key account director for EMEA. Based in London, she joins Pirum’s newly launched global key account management team led by Bob Zekraus, COO and head of Americas.
Nordnet deploys Citi’s retail lending platform
Nordnet AB, the pan-Nordic digital platform for savings and investments, is the first Swedish client to start lending through Citi’s Securities Lending Access platform. The solution will enable Nordnet to expand its securities lending programme to new markets and new client segments. Citi Securities Lending Access is an end-to-end solution that digitises and automates the…
Pirum extends CoacsConnect functionality
Pirum, the UK fintech specialising in securities finance and collateral management, has extended its CoacsConnect network and enhanced functionality to fully automate income claims. CoacsConnect’s automated income claims service has 20 financial institutions automatically distributing, matching and paying income claims. The service enhancements allow the counterparts to receive fully automated status updates, exchange payment instructions…
CAF appoints BNPP for sec lending
Corporación Andina de Fomento (CAF), the development bank of Latin America and the Caribbean, has appointed BNP Paribas’s securities services business as agent lender for its USD1.3bn portfolio. In 2020, BNP Paribas supported the issuance of CAF’s Covid-19 recovery bond, and the selection comes as a result of a long-standing relationship between BNP Paribas and…