SIX Securities Services adds US equity and fixed-income securities on the CO:RE trading platform

SIX Securities Services adds US equity and fixed-income securities on the CO:RE trading platform

SIX Repo Ltd – owned by SIX Securities Services – has added two additional security types, US equities and fixed-income (Treasuries), on its repo trading platform CO:RE, allowing refinancing versus cash.

SIX Securities Services has enhanced its triparty offering by adding US equity and fixed-income securities for financing on the CO:RE Repo trading platform and for general triparty collateral management.

Apart from the Swiss National Bank’s (SNB) high-quality liquid asset (HQLA) baskets, which are traded as the market standard on the CO:RE trading platform via direct counterparties (triparty), there has been increasing interest in US securities that have been building up in the vaults of Europe-based banks and financial institutions to be made available for financing purposes. Those securities can be financed on a cross-currency or same-currency basis, as SIX currently offers a total of 14 currencies for repo transactions, including CHF, USD, EUR and GBP.

The US equity baskets will enhance the already broad equity financing portfolio that SIX Securities Services offers covering the major European indices (SMI, DAX, CAC40, FTSE, MIB, IBEX) and also complementing SIX Repo’s “repo on demand” service, thus enabling the financing of any combination of tailored baskets.

Ueli von Burg, Head Cash & Collateral Trading & Management at Zürcher Kantonalbank said, “we welcome the wider range of the accepted collateral universe on the SIX trading and triparty platform. This is another push in the right direction that adds value to market participants and will generally enhance market liquidity.”  

According to Nerin Demir, Head SIX Repo Ltd, “the need to provide a broader range of collateral for refinancing on the CO: RE Trading Platform already plays an important international role in the interbank market and naturally we want to meet the needs of our clients by expanding and enhancing this product basket.”