The companies say that the new programme will allow institutions to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading
The total value of repos and reverse repos still outstanding on the books of participants fell back 2.3 per cent year-on-year, according to the semi-annual survey
The companies say the successful collaboration demonstrates greater efficiency in bringing liquidity and risk reduction to US and European financial markets
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