EXCLUSIVE: Banque de France and BNP Paribas utilise Elixium marketplace
20 June 2018 Paris
Image: Shutterstock
The Banque de France and BNP Paribas have become the first participants to utilise the Elixium marketplace with Euro tri-party Repo trade, settled by Euroclear.
The €750 million trade was confirmed by Francois Villeroy de Gaulhau, governor of the Banque de France, at the bank’s conference on Innovations in the Paris Financial Centre, on 25 May.
According to Gabriele Frediani, chief business development officer, head of business development and international at Elixium, more trades have happened since and three more participants have since joined.
Frediani explained that for Elixium, the Paris financial centre is expanding its collateral management offering alongside Euro GC +, a centrally‑cleared service for the triparty repo market that has been available since 2015.
He said: “We are happy to confirm that our European marketplace is up and running. Elixium was developed to respond to a changing regulatory environment that has created an inexorable shift towards transparency, best price execution and equilibrium of access to markets.”
“As such we are delighted to be at the heart of the Paris ecosystem, helping to unlock liquidity, create efficiencies, and improve returns in the secured financing market for Europe.”
Olivier Grimonpont, global head of securities financing and collateral management of Euroclear, added: "We are pleased to support Elixium by offering triparty services on its platform. Elixium complements Euroclear's agnostic Collateral Highway adding liquidity to the market, which is a key market driver as the need for collateral increases.”
The €750 million trade was confirmed by Francois Villeroy de Gaulhau, governor of the Banque de France, at the bank’s conference on Innovations in the Paris Financial Centre, on 25 May.
According to Gabriele Frediani, chief business development officer, head of business development and international at Elixium, more trades have happened since and three more participants have since joined.
Frediani explained that for Elixium, the Paris financial centre is expanding its collateral management offering alongside Euro GC +, a centrally‑cleared service for the triparty repo market that has been available since 2015.
He said: “We are happy to confirm that our European marketplace is up and running. Elixium was developed to respond to a changing regulatory environment that has created an inexorable shift towards transparency, best price execution and equilibrium of access to markets.”
“As such we are delighted to be at the heart of the Paris ecosystem, helping to unlock liquidity, create efficiencies, and improve returns in the secured financing market for Europe.”
Olivier Grimonpont, global head of securities financing and collateral management of Euroclear, added: "We are pleased to support Elixium by offering triparty services on its platform. Elixium complements Euroclear's agnostic Collateral Highway adding liquidity to the market, which is a key market driver as the need for collateral increases.”
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