Global Securities Financing

Repurchase Agreements (REPO)

Our robust integrated global trading capabilities, combined with local U.S. market expertise, enable the execution of Repurchase Agreements (REPO) transactions that meet the diverse financing needs for our client base.

TRANSACTION TYPES

Bilateral:

  • Transactions in high demand (specials) will be done predominantly on an overnight basis due to dynamically changing firm positions.
  • General collateral transactions will typically be asset gathering, trade funding, and term in nature with an average maturity of 7 to 30 days and a maximum of 365 days.
  • Agent lender borrows will be open/overnight.

Tri-Party:

  • Transaction size will be up to $1B per transaction to ensure proper intraday liquidity to unwind trades.
  • The book will be structured with an average maturity of 7 + days, with limited overnight transactions to reduce liquidity risk.

Securities Lending

  • We provide clients the opportunity and insight necessary to properly maintain their portfolios, while integrating the highest risk management standards.
  • We offer clients information to navigate the lending markets.
  • With our global reach and dedicated local resources, we provide advantageous and transparent lending rates.

Transaction Types

Equity Specials:

  • We target equities that have high short sale interest.
  • We transact in the borrowing and lending of equity securities with other broker dealers.

Lending Box:

  • We maintain firm liquidity, lending re-hypothecated securities to approved counterparties.

Fully Paid Lending:

  • Once implemented, we will work with internal accounts that hold fully paid assets that have tremendous value in the securities lending market.