Euroclear and Standard Chartered celebrate anniversary
04 November 2014 Singapore
Image: Shutterstock
Euroclear Bank and Standard Chartered Bank have commemorated the launch of their joint collateral optimisation initiative at the Euroclear Asia Collateral Conference held in Singapore.
First announced in 2013, Standard Chartered鈥檚 clients can now use Euroclear鈥檚 Open Inventory Sourcing capabilities on the global collateral conduit known as the Collateral Highway.
Under the agreement, mutual clients are able to utilise assets held at Standard Chartered to meet collateral requirements arising in triparty repos, central counterparty margining and other financing deals managed by Euroclear Bank via the Collateral Highway.
These assets do not leave the Standard Chartered network, but are used in a virtual single cross-border pool.
The solution enables clients to use their assets held in domestic Asian capital markets to tap international financing sources from a wide spectrum of non-Asian counterparties.
George Nast, global head of product management for transaction banking at Standard Chartered, stated: 鈥淲e are delighted to strengthen our services to clients by partnering with Euroclear Bank.鈥�
鈥淏y joining Euroclear鈥檚 Highway and using its unique technology, we are ensuring that customers can now take a holistic approach to collateral management and liquidity provision.鈥�
This anniversary follows the recent joint venture announced by Euroclear and the DTCC, forming 鈥淒TCC 鈥� Euroclear Global Collateral Ltd鈥�, which optimises collateral movements for clients of these depositories on a transatlantic basis.
Euroclear has also partnered with Citi and BNP Paribas 麻豆传媒 Services to offer similar cross-border collateral pooling initiatives.
First announced in 2013, Standard Chartered鈥檚 clients can now use Euroclear鈥檚 Open Inventory Sourcing capabilities on the global collateral conduit known as the Collateral Highway.
Under the agreement, mutual clients are able to utilise assets held at Standard Chartered to meet collateral requirements arising in triparty repos, central counterparty margining and other financing deals managed by Euroclear Bank via the Collateral Highway.
These assets do not leave the Standard Chartered network, but are used in a virtual single cross-border pool.
The solution enables clients to use their assets held in domestic Asian capital markets to tap international financing sources from a wide spectrum of non-Asian counterparties.
George Nast, global head of product management for transaction banking at Standard Chartered, stated: 鈥淲e are delighted to strengthen our services to clients by partnering with Euroclear Bank.鈥�
鈥淏y joining Euroclear鈥檚 Highway and using its unique technology, we are ensuring that customers can now take a holistic approach to collateral management and liquidity provision.鈥�
This anniversary follows the recent joint venture announced by Euroclear and the DTCC, forming 鈥淒TCC 鈥� Euroclear Global Collateral Ltd鈥�, which optimises collateral movements for clients of these depositories on a transatlantic basis.
Euroclear has also partnered with Citi and BNP Paribas 麻豆传媒 Services to offer similar cross-border collateral pooling initiatives.
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