Euroclear has partnered with Brown Brothers Harriman (BBH) to implement a data management solution aimed at improving SWIFT message transformation and network connectivity for its new Bilateral Repo service. The move is intended to enhance communication with custodians across inter-dealer markets, according to a BBH press release.
To support the service, Euroclear is deploying BBH’s Infomediary Data Solutions (IDS), a platform designed to standardise information flows and facilitate data transfers between financial institutions. The tool acts as an intermediary layer, reducing the complexity associated with multiple data sources and evolving formats. By integrating this solution, Euroclear aims to improve operational efficiency and ensure reliable connectivity across its network.
Strengthening infrastructure
The Bilateral Repo service is part of Euroclear’s broader effort to enhance market infrastructure for secured financing. “Enabling Repo market participants’ connectivity to multiple custodians is a key attribute of this new service and provides highly sought after depository diversification and resiliency”, says Olivier Grimonpont, Euroclear’s Global Head of Market Liquidity.
