Clearstream and 360T cooperate to launch pioneering triparty repo service for corporate and institutional clients

January 2013

Luxembourg / Frankfurt / London / New York

  • The service reaches out to a wide customer base including corporate clients, hedge funds and asset managers
  • It seamlessly integrates Clearstream’s leading collateral management solutions with the important trading functionalities of 360T
  • The cooperation will further enrich Clearstream’s Global Liquidity Hub through the Liquidity Hub Collect stream

Clearstream and 360 Treasury Systems AG (360T) are cooperating on the delivery of a streamlined triparty repo solution through 360T’s sophisticated front office facilities and Clearstream’s integrated collateral management platform and securities lending product portfolio, the Global Liquidity Hub. The partnership with 360T, the leading independent global provider of a multi-bank, multi-asset trading platform with buy-side customers in more than 50 countries, will strengthen Clearstream’s growing service offering for the non-financial sector and further enhance the service diversification for financial institutions.

The triparty repo service will be offered by 360T to “matching” trading partners from the platform’s extensive client database. The counterparties will become customers of Clearstream which will facilitate the entire triparty repo administration by using general collateral (GC) baskets of eligible collateral. The two companies expect the service to go live in Q1/2013.

The partnership between Clearstream and 360T is the latest addition to Liquidity Hub Collect, an increasingly important segment of Clearstream’s Global Liquidity Hub. The collaboration acts as a further channel for Clearstream customers to raise liquidity and maximize the use of their collateral. Furthermore, this cooperation provides a working model for trading platforms which can serve as a basis to create new, very short time-to-market trading functionalities. Liquidity Hub Collect effectively bridges the gap between automated repo trading platforms and complete settlement via straight-through processing (STP), as well as collateral allocation, optimization and substitution in a secure and efficient triparty environment.

The extension of its important front-office functionalities towards a fully automated Triparty Repo offering incorporating the entire post-trade processing chain (including a fully automated collateral management function) will further strengthen the leading service offering of 360T. At the same time, Clearstream can further enlarge its available liquidity pool by reaching out to a wider customer base, including corporate clients, hedge funds and asset managers.

Stefan Lepp, Chief Executive Officer of the German central securities depository (CSD) Clearstream Banking AG and Head of Global Securities Financing at Clearstream, welcomed the collaboration with 360T which has made Clearstream and the Global Liquidity Hub even more attractive to buy-side customers looking for efficient, transparent and reliable Triparty Repo solutions. “Clearstream has long been committed to growth through strategic partnerships,” he said. “We are delighted to be working with 360T which has tremendous expertise in offering services to corporates and we are convinced that together we can add significant value for our mutual customers.”

“With the seamless integration of the 360T trading platform and the Global Liquidity Hub, we will enable our clients to benefit from a single trading venue for electronic trading. Moreover the whole product life cycle from price discovery to execution and settlement will be faster, more reliable and fully STP-supported”, added Carlo Kölzer, CEO at 360T. “360T is pleased to cooperate with an industry primus like Clearstream. We are sure that the new service will meet the demands of our clients to handle their collateralized deposits efficiently”, underlined Kölzer.

In 2012, the Global Liquidity Hub was awarded a top rating in the Global Custodian magazine’s Triparty Securities Financing Survey for the 12th successive year. The 2012 Global Investor/isf magazine Triparty Survey also placed the Global Liquidity Hub first with Clearstream winning the “Overall” category plus “Overall Europe, Middle East and Africa”, “Overall Asia”, “Overall Repo” and “Overall Securities Lending.”

About Clearstream

Clearstream is the post-trade services and global liquidity provider within Deutsche Börse Group. As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 53 domestic markets worldwide. Clearstream’s customers comprise approximately 2,500 financial institutions in more than 110 countries. Its services include the issuance, settlement and custody of securities, as well as investment fund services and global securities financing. With more than EUR 11 trillion in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. As a central securities depository (CSD) based in Frankfurt, Clearstream also provides the post-trade infrastructure for the German securities industry, offering access to a large number of markets in Europe.

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About 360T Group

360T is an independent and globally-established trading venue. Its fast growth confirms the company’s status as a provider of web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange and money market products and FX/interest rate derivatives.
360T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T´s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorised under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).

Further information:

Media Contact

Media contact Clearstream: Nicolas Nonnenmacher, +352-243-36115, [email protected]

Media contact 360T: Claudia Stirner, +49-(0)69-900 289 112, [email protected]