Quadriserv to serve up repo platform 19 December 2012New York Reporter: Mark Dugdale
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Quadriserv is working on a central counterparty (CCP)-based platform for equity repo, the firm has revealed.
It will build on its AQS securities lending facility, which is a CCP-based securities lending platform that offers automated stock loan trading in more than 5000 underlying equity, exchange-traded fund and American depository receipt products, to construct AQS Repo.
OCC will serve as the CPP clearer for the new platform, which has gained support from repo industry participants.
Quadriserv will continue to work closely with OCC and regulators in 2013 to create a venue that will meet the needs of securities financing repo participants.
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