Tri-party Repos are now available on the 360T trading platform. The new service is fully integrated with Clearstream - see figure - and uses either GMRA (bilateral) agreements as well as the new Clearstream's Repurchase Conditions (CRC). This conditions speed up the counterparty "marriage-broking" process - a major problem with tri-party repos - by enabling customers to sign just one document that is applicable for any number of counter-parties. The CRC is a set of standardised dedicated master repurchase conditions for triparty repo and specially designed to operate with Clearstream's CMSA.
Repos are starting to become part of a large European coporate’s de-risking of their depositing their excess cash.
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