(12 May 2025 – United States) BNY has successfully piloted the first intraday repo trade settled through its triparty infrastructure, enabling more flexible liquidity management capability for clients.
The transaction was executed between UBS and Swiss Re in February, where UBS borrowed cash from Swiss Re while delivering collateral through BNY’s platform. BNY reports that the successful transaction marks the ability for market participants to instruct a same-day repo, where the allocation and return of collateral will be settled intraday against payment.
The tri-party solution also allows financial institutions such as UBS to source liquidity at a specified time, without the need to borrow for a full 24-hour period.
“Our intraday triparty repo solution is an important step towards providing more flexible liquidity management possibilities to our clients, enabling them to more efficiently fund their day-to-day operations” commented BNY Executive Platform Owner, Global Collateral, Gesa Johannsen.
“This facility enhances intraday capabilities by allowing institutions to provide or access cash at specific times to better manage liquidity” stated UBS Head of EMEA Funding and Optimisation Solutions, Jason Crosskey.