Citigroup Global Transaction Services, Clearstream and Barclays Capital have executed the first ever quad-party securities financing trade, following a collaborative effort to develop a new collateral custody service facility to enable easier financing of international and domestic assets. Quad-party Repo is an extension of the Tripartite Repo Service of Clearstream. The fourth party involved – the local agent bank appointed by the cash taker to hold their domestic assets – becomes an extension of the triparty set up. Instead of forcing the cash taker to move the assets from their domestic agent bank into the international market for financing, quad-party enables the triparty repo to be extended into domestic markets, thereby respecting the cash takers choice of where they want to hold their assets. Citigroup and Clearstream jointly developed the service, and Barclays Capital, a key user of collateralised financing services at Clearstream, executed the first transaction at the end of last month.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.