Wednesday June 24 2020

News Source: Global Exchanges

Focus: Trading Systems and Technology

Type: General

Country: Switzerland


On 24th June 2020, the Swiss Stock Exchange (SIX) announced that its Triparty Agent system has successfully gone live. As the key financial infrastructure provider for Switzerland, SIX invented and operates the multi-currency repo trading platform. By launching its new Triparty Agent, SIX strengthens the Swiss financial infrastructure and its commitment to the repo and securities finance business.

The Triparty Agent with its user interface Collateral Cockpit™ manages on behalf of the counterparties secured transactions such as repos. This encompasses the automated allocation and settlement of collateral and covering of margin calls.

The new Triparty Agent is a central and essential element for the Swiss repo market. The SNB performs its open market operations in Swiss francs on this infrastructure and concludes repo transactions in US-dollars in the form of auctions with its counterparties. In connection with the Swiss Repo Market the new Triparty Agent further increases the attractiveness of secured financing, thus strengthening the stability of the financial system.

Based on this renewed foundation, further services are planned and about to be implemented to address regulatory changes (i.e. transaction reporting) and a wide range of additional possibilities in using and optimizing collateral.

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