TreasurySpring, Clearstream and Eurex have partnered to give corporate treasurers direct access to centrally cleared repo markets.
TreasurySpring’s reinvestment platform will optimise treasury cash via GC Pooling, Eurex’s and Clearstream’s jointly developed secured funding offering. This expands the source of funding and collateral beyond banks, financial institutions and funds.
Building on the collaboration, TreasurySpring introduced next-day fixed-term funds (FTFs) via a new offering of euro-denominated instruments backed by centrally cleared overnight repo with one-day maturity. This provide treasurers with next-day liquidity with central clearing and collateralisation.
Via the GC Pooling market, Eurex Repo’s electronic trading provides secured funding, while Eurex Clearing will centrally clear trades and Cleastream provides tri-party collateral management and settlement.
How it works
The partnership will mobilise unlevered and uncorrelated pools of cash for corporate treasurers, financial institutions, and private funds. The collaboration combines Eurex’s Select Invest framework, to extend cleared-repo access to cash investors and TreasurySpring’s FTF suite, enabling investment in repo without the need to build any financial infrastructure.
Commenting on the collaboration, Kevin Cook, CEO and co-founder, TreasurySpring said: “For our counterparties, it unlocks a new universe of diversified funding sources, within a capital efficient ecosystem. While for money markets as a whole, it marks a meaningful step towards a more diverse, more collateral-based and less maturity-transformed funding landscape.”
