BNY pilots first intraday triparty repo trade
09 April 2025 US
Image: BNY
BNY has successfully piloted the first intraday repo trade settled through its triparty infrastructure.
The transaction took place between UBS and Swiss Re in February, where UBS borrowed cash from Swiss Re while delivering collateral through BNY's platform.
BNY says that the successful transaction marks the ability for market participants to instruct a same-day repo, where the allocation and return of collateral will be settled intraday against payment.
The tri-party solution also allows firms such as UBS to source liquidity at a specified time, without the need to borrow for a full 24-hour period.
Gesa Johannsen, BNY's executive platform owner, global collateral, says: "Our intraday triparty repo solution is an important step towards providing more flexible liquidity management possibilities to our clients, enabling them to more efficiently fund their day-to-day operations.”
Jason Crosskey, head of EMEA funding and optimisation solutions at UBS, adds: “This facility enhances intraday capabilities by allowing institutions to provide or access cash at specific times to better manage liquidity.”
The transaction took place between UBS and Swiss Re in February, where UBS borrowed cash from Swiss Re while delivering collateral through BNY's platform.
BNY says that the successful transaction marks the ability for market participants to instruct a same-day repo, where the allocation and return of collateral will be settled intraday against payment.
The tri-party solution also allows firms such as UBS to source liquidity at a specified time, without the need to borrow for a full 24-hour period.
Gesa Johannsen, BNY's executive platform owner, global collateral, says: "Our intraday triparty repo solution is an important step towards providing more flexible liquidity management possibilities to our clients, enabling them to more efficiently fund their day-to-day operations.”
Jason Crosskey, head of EMEA funding and optimisation solutions at UBS, adds: “This facility enhances intraday capabilities by allowing institutions to provide or access cash at specific times to better manage liquidity.”
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