SIX launches Triparty Agent system for Swiss repo market
24 June 2020 Zurich
Image: Anton Balazh/Shutterstock
SIX has gone live with Triparty Agent, a solution for collateral and liquidity management within the Swiss repo and securities finance market.
The structure incorporates user interface Collateral Cockpit to manage counterparties鈥� secured transactions such as repos, as well as centralising and automating settlement of collateral and covering of margin calls, which aim to improve the efficiency of front and back-office processes.
The Triparty Agent solution is expected to solidify itself as a key element to the Swiss repo market, as the system on which the Swiss National Bank carries out its open market operations and finalises repo transactions.
Valerio Roncone, head of future business for securities and exchanges at SIX, comments: 鈥淭he collateral management process has until now been fragmented and unwieldy for many stakeholders. With our new Triparty Agent, we have created a hub that will harness the power of automation and intelligent data usage to give repo professionals, traders, treasury professionals, and other stakeholders full control over their collateral.鈥�
Thomas Moser, alternate member of the governing board at Swiss National Bank, adds: 鈥淭he new Triparty Agent is an essential part of the renewal of the Swiss money market infrastructure. For Swiss banks and insurance companies, it is a crucial and direct way to manage their liquidity needs. We congratulate SIX for the successful launch of this impressive integrated and automated system.鈥�
The multi-currency repo trading platform is used by over 170 domestic and international clients, ranging from regional banks to Swiss insurance companies and the Swiss National Bank.
The structure incorporates user interface Collateral Cockpit to manage counterparties鈥� secured transactions such as repos, as well as centralising and automating settlement of collateral and covering of margin calls, which aim to improve the efficiency of front and back-office processes.
The Triparty Agent solution is expected to solidify itself as a key element to the Swiss repo market, as the system on which the Swiss National Bank carries out its open market operations and finalises repo transactions.
Valerio Roncone, head of future business for securities and exchanges at SIX, comments: 鈥淭he collateral management process has until now been fragmented and unwieldy for many stakeholders. With our new Triparty Agent, we have created a hub that will harness the power of automation and intelligent data usage to give repo professionals, traders, treasury professionals, and other stakeholders full control over their collateral.鈥�
Thomas Moser, alternate member of the governing board at Swiss National Bank, adds: 鈥淭he new Triparty Agent is an essential part of the renewal of the Swiss money market infrastructure. For Swiss banks and insurance companies, it is a crucial and direct way to manage their liquidity needs. We congratulate SIX for the successful launch of this impressive integrated and automated system.鈥�
The multi-currency repo trading platform is used by over 170 domestic and international clients, ranging from regional banks to Swiss insurance companies and the Swiss National Bank.
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