Consort1 collaborates with banks and infrastructure to extend access to sec lending and repo markets
14 June 2023 UK
Image: Victor Moussa/stock.adobe.com
Consort1 has entered into a collaboration with a group of banks, financial infrastructure, fintech software and advisory companies to extend access to securities lending and repo markets.
The Jersey-based financial technology company will work with Clearstream, NatWest, Standard Chartered Bank, treasury and wealth specialist Arlingclose and financial software and solutions providers BankClarity and Alpha Group to support the trading of secured deposits.
With this development, securities lending and repurchase agreement markets will be accessible to government entities and supranationals, fund managers, corporates and other institutional entities that may previously not have access to these markets.
Gloucestershire County Council has been named by the participating companies as one of the first UK local authorities to use the new service.
This will provide the usual risk management and revenue generating benefits of being able to access these SFT markets, lowering the risk profile of cash deposits while continuing to work with mainstream banks across the usual tenors to enable firms to realise greater pick up on their cash holdings.
Commenting on the initiative, Consort1 co-founder and CEO Justin Clapham says: “We are committed to providing innovative solutions for our clients and we are both proud and honoured to be working with so many global institutions and clients to bring the repo and collateralised secured deposit service to institutions that have not previously enjoyed access.”
Marton Szigeti, Clearstream’s global head of collateral lending and liability solutions, comments: “Clearstream’s custody solution adds the highest liquidity and security for stable cash to help our bank clients better manage their regulatory liquidity requirements.
"We are working closely with the Consort1 team to deliver the benefits of triparty to a segment of clients that would previously have been excluded from the market.”
Standard Chartered Bank’s global head of repo and collateral trading Ed Donald adds: “Along with our global partners, [this] innovation in the securities finance industry, broadens the reach of the repo product while reinforcing our commitment to providing progressive solutions for our clients.”
The Jersey-based financial technology company will work with Clearstream, NatWest, Standard Chartered Bank, treasury and wealth specialist Arlingclose and financial software and solutions providers BankClarity and Alpha Group to support the trading of secured deposits.
With this development, securities lending and repurchase agreement markets will be accessible to government entities and supranationals, fund managers, corporates and other institutional entities that may previously not have access to these markets.
Gloucestershire County Council has been named by the participating companies as one of the first UK local authorities to use the new service.
This will provide the usual risk management and revenue generating benefits of being able to access these SFT markets, lowering the risk profile of cash deposits while continuing to work with mainstream banks across the usual tenors to enable firms to realise greater pick up on their cash holdings.
Commenting on the initiative, Consort1 co-founder and CEO Justin Clapham says: “We are committed to providing innovative solutions for our clients and we are both proud and honoured to be working with so many global institutions and clients to bring the repo and collateralised secured deposit service to institutions that have not previously enjoyed access.”
Marton Szigeti, Clearstream’s global head of collateral lending and liability solutions, comments: “Clearstream’s custody solution adds the highest liquidity and security for stable cash to help our bank clients better manage their regulatory liquidity requirements.
"We are working closely with the Consort1 team to deliver the benefits of triparty to a segment of clients that would previously have been excluded from the market.”
Standard Chartered Bank’s global head of repo and collateral trading Ed Donald adds: “Along with our global partners, [this] innovation in the securities finance industry, broadens the reach of the repo product while reinforcing our commitment to providing progressive solutions for our clients.”
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