Standard Chartered Bank has selected Euroclear’s Collateral Highway network, enabling clients to use assets held at the bank to meet collateral requirements arising in triparty deals managed by Euroclear Bank.
Euroclear said that these assets do not leave the Standard Chartered Bank network, but are instead used in a virtual single cross-border pool.
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Using the platform, Standard Chartered’s clients can now leverage Euroclear’s Open Inventory Sourcing capabilities on the global collateral conduit known as the Collateral Highway.
The partnership will enable clients of both the firms to achieve greater risk protection and manage their assets efficiently across business lines.
Additionally, the solution will also allow clients to utilize their assets held in domestic Asian capital markets to tap international financing sources through non-Asian counterparties.
George Nast, global head of product management for transaction banking at Standard Chartered Bank, said: "By joining Euroclear’s Highway and using its unique technology, we are ensuring that customers can now take a holistic approach to collateral management and liquidity provision. Safety, precision and timeliness – guaranteed."
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By GlobalDataOlivier Grimonpont, general manager and regional head, Asia-Pacific for Euroclear, said: "Offering Standard Chartered Bank and their clients access to our open-architecture ecosystem is part of the ongoing extension of the Collateral Highway to more markets globally."
