Launching the “Repo Collateral Transfer” service
Thursday, November 12, 2020 at 4:09 PM
Thu Nov 12, 2020 16:09
The Securities Depository Center Company (Edaa) today announces the launch of the “Repo Collateral Transfer” service, to facilitate the transfer of collateral required under repurchase agreements. This service is part of Edaa’s strategic plans to provide innovative and efficient solutions for all market participants in line with international standards, and as part of the Financial Sector Development Program initiatives, Vision 2030.
By enabling the service, Edaa aims to introduce a market framework for repurchase agreements and provide participants with a tool to enhance risk management by allowing participants in a repurchase agreement to transfer their collateral through Edaa custody members.