The acquisition marks the official launch of Transparence IO, a provider of outsourced securities lending technology, by securities finance veteran Tony Venditti
Andy Smith, formerly of Northern Trust, brings 40 years of experience in securities lending and controls to the role, where he will contribute to the build-out of the firm’s advisory business
It is the latest European bank to join the Listed Rates service, which provides clearing of US Treasury and SOFR futures traded on LCH’s partner FMX Futures Exchange
The increase reflects the continued evolution of tokenised market infrastructure and the expanding role of distributed ledger technology in modernising funding and collateral markets, the firm states
This was driven by an 63 per cent YoY rise in GC Pooling average term-adjusted volume to €319.1 billion, and a 53 per cent YoY increase in special repo to €295.3 billion
The milestone featured Clearstream Banking as issuer, Deutsche Bank’s London Branch as issuing and paying agent, UBS Investment Bank as dealer, and Citigroup Global Markets Limited as arranger