European repo trading platform for the financial services market

European repo trading platform for the financial services market

The challenge

Industry fragmentation has had a profound effect on the fund management community challenging them to improve their collateral management sophistication. Trading participants are now working to understand the challenges of:

  • Aggregating their collateral holdings across fragmented markets;
  • Looking to reduce or control the escalating costs of trading;
  • Looking to obtain certainty of collateral availability;
  • Seeking to optimise available collateral;
  • Investment of surplus collateral for yield;
  • Transformation of ineligible collateral for margin requirements;
  • Recalling of surplus collateral from clearing brokers;
  • Finding new partnerships to enhance offering and services.

The solution

In 2016, EuroNext selected NovaFori to build their Collateral Trading Platform (the 'Monitor'), which was part of their "Collateral Transformation" initiative known as Chequers. A disruptive new technology, the 'Monitor' harnessed the ground-breaking NovaFori negotiation engine to enable participants to agree digital RFQs in a frictionless way and execute these trades with a Financial Institution.

Key features:

  • RFQ for Repo and Reverse Repo
  • Multiple Asset types
  • ISIN/SEDOL/Bloomberg security lookups
  • Counterparty management
  • Tenor and Benchmarks
  • Negotiation engine with order execution