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Clearstream and Collex simplify buy-side access to tri-party collateral management

First Published 19th June 2017

Clearstream and Collex collaborate to offer simplified buy-side access to tri-party collateral management.

Glen Stone, ColleX

Glen Stone, ColleX

London - Clearstream, the international central securities depository (ICSD), and ColleX, the collateral exchange platform, have announced a collaboration that brings together ColleX's visible pricing and liquidity for secured lending transactions with Clearstream's simplified collateral management services.

With the introduction of the Clearstream Repurchase Conditions (CRC), Clearstream aims to simplify tri-party repo and its settlement processes. The CRC sets out tri-party provisions and collateral acceptability in a single legal document and gives all participants access to a counterparty pool without the need for multiple bilateral legal agreements.

"By coupling Clearstream's capability to manage the operational lifecycle of tri-party repo transactions with the ColleX trading technology, ColleX is offering price discovery and best execution to further streamline and simplify a historically fragmented market which can be difficult to access," said Glen Stone, Head of ColleX.