Brown Brothers Harriman (BBH), the asset servicing provider for financial institutions and asset managers, announced that it has partnered with Euroclear, the Brussels based international central securities depository (ICSD), to provide SWIFT message transformation and network connectivity for its new Bilateral Repo service.

To effectively communicate with custodians across inter-dealer markets, Euroclear is deploying BBH Infomediary Data Solutions (IDS), a set of data management capabilities that help financial institutions overcome their operating model challenges across their network of providers. The platform streamlines data transfers, standardizes information flows across providers, and enables flexible data connectivity. The tool insulates organizations from the distractions of multiple data sources, new data formats, and counterparty changes.

 “We are delighted to partner with Euroclear on this initiative. A key objective of our strategy for financial institutions is to share our technology to deliver more effective operating models and enable product expansion. We are proud that BBH Infomediary Data Solutions is enabling Euroclear to do just that,” said Sinéad McIntosh, Managing Director for Financial Institutions at BBH.

“Euroclear is very pleased to work with BBH on this key market undertaking,” said Olivier Grimonpont, Euroclear’s Global Head of Market Liquidity. “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. This launch is a key part of our business strategy focused on developing cutting edge solutions, working with the market to drive efficiencies for clients.”

Source: Brown Brothers Harriman