Citibank and Standard Chartered Bank have both gone live with Clearstream’s triparty collateral management service, Liquidity Hub Connect, according to an announcement from the CSD.
The service will enable mutual customers to use assets held domestically in the Singaporean, French, Dutch, German, Belgium and Italian markets by Standard Chartered and Citi, to be used to cover exposures with Clearstream’s collateral pool under the Global Liquidity Hub.
Together with BNP Paribas Securities Services, it brings the total number of sub-custodians using Liquidity Hub Connect to three.
According to Clearstream, it is looking to extend this service to other European and Asian markets.
International regulatory changes concerning derivatives and other OTC trades have resulted in institutional investors, from a wide range of regional jurisdictions, being brought into the scope of cross-border rules on collateral and clearing. Regulatory pressures, especially on global firms, have prompted ICSDs to launch global solutions to meet demands of cross-border collateral management.
Citi and Standard Chartered Go Live with Clearstream’s Liquidity Hub Connect
Citibank and Standard Chartered Bank have both gone live with Clearstream’s triparty collateral management service, Liquidity Hub Connect, according to an announcement from the CSD.