BNP Paribas’ Securities Services business has joined Euroclear’s Collateral Allocation Interface (CAI) as a triparty agent.
Users of the CAI can trade collateral securities with counterparties outside the Euroclear system that have accounts with connected triparty agents.
According to the firm, it automatically recalls the securities as soon as they are required for settlement in Euroclear Bank, preventing fails “even if securities are located outside of Euroclear Bank”.
Commenting on the news, Euroclear says: “Euroclear actively supports an open marketplace where scale and connectivity are cornerstones.
“Collaboration and interoperability with other triparty agents provide greater flexibility and more trading options by allowing you to seamlessly, and securely, move collateral in and out of the Euroclear system.”
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