Bloomberg LP has released the first agency-neutral platform allowing investors to process and confirm tri-party repo trades with both clearing banks Bank of New York Mellon and J.P. Morgan, Bloomberg reports. Investors can process and confirm repo trades with either clearing bank as mandated by the Federal Reserve Bank of New York. The company’s fixed-income trading platform tracks and matches repo trades through a voice confirmation system. Each trade is automatically notified to BNY Mellon and J.P. Morgan. More than 85,000 block repo agreements are executed by Bloomberg across specials repo, general collateral delivery versus payment and tri-party classifications in a month.
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Bloomberg J.P. Morgan Bloomberg LP Federal Reserve Bank New York Mellon