15 March 2017
Brussels
Reporter: Drew Nicol

DTCC and Euroclear launch cross-border collateral solution


DTCC-Euroclear GlobalCollateral is launching a collateral mobility solution for US and European securities.

The Global Collateral Inventory Management Service (IMS) promises to be a transformative solution enabling users to seamlessly mobilise securities as collateral between the two major markets.

In a joint statement on the launch, the Depository Trust & Clearing Corporation (DTCC) and Euroclear explained that the new product is their response to challenges of consolidating collateral pools and accessing a broader range of counterparties.

“With IMS, financial institutions can now optimise collateral across two of the largest global market infrastructures servicing a combined $78 trillion in assets,” the statement continued.

Participants can use DTCC eligible securities in the US, including equities, corporate bonds and asset-backed securities, for collateral purposes within Euroclear.

Michael Shipton, chief executive of Global Collateral IMS, said: “This is a major step for Global Collateral. IMS delivers one of the joint venture’s key objectives–to address what market practitioners have long recognised as a critical need to be able to directly mobilise and use collateral across borders and to move dollar assets into Europe.”

“With IMS, firms have greater control and flexibility in the way they utilise their assets, while benefiting from improved efficiency.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Hedge funds continue to attract inflows, says J.P. Morgan survey
23 February 2018 | London | Reporter: Brian Bollen
Hedge funds continue to attract inflows, according to a J.P. Morgan 2018 Institutional Investor Survey
SEC votes to extend compliance date for liquidity classification
23 February 2018 | Washington DC | Reporter: Jenna Lomax
The deadline, which will be extended by six months, will provide funds additional time to complete implementation of the final rule's classification requirement
ISDA releases best practice for margin call issuance and response
23 February 2018 | London | Reporter: Jenna Lomax
The ISDA CIC examined the minimum set of fields which is required to communicate the issuance of a margin call, as well as the expected response of a margin call
ESMA gives SSR technical advice
23 February 2018 | Brussels | Reporter: Brian Bollen
Verena Ross, executive director at the ESMA, addressed the Economic and Monetary Affairs Committee of the European Parliament to discuss elements of the short selling regulation
Saxo Bank sees positive growth in 2017
23 February 2018 | Copenhagen | Reporter: Jenna Lomax
Saxo Bank’s reported 33 percent increase in net profit follows the sale of its subsidiary Saxo Privatbank earlier this month
ROBO appoints BNY Mellon as custodian and sec lending agent
22 February 2018 | New York | Reporter: Brian Bollen
ROBO Global, creator of the world’s first ETF to track the global RAAI sector, has selected BNY Mellon to provide the firm with custody and transfer agency services
FCA launches call for input on use of technology for regulation
22 February 2018 | London | Reporter: Jenna Lomax
The Financial Conduct Authority is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide