Repurchase agreement (‘Repo’)

On Dec 4th 2017, Yieldbroker launched phase 1 of its AUD repo offering to the interdealer market place. The platform allows dealers to view live co-mingled repo rates, post passive orders, aggress and execute on resting liquidity, allocate and process trades – all on one platform allowing for operational efficiencies and assured execution.

Key features of phase 1 include general collateral securities and term dates only, fixed and floating repo rates, built-in GMRA counterparty selection and STP capabilities.

Phase 2, expected in the first half of 2018, will incorporate additional functionality including RBA and custom dates, transact/close out open trades and the ability to manage unwinds and substitutions. Dealer-to-client trading via Request-For-Quote (RFQ) and Tri-Party Repo in partnership with the ASX will be introduced later in 2018.

Bank bills

Yieldbroker has been active in the Bank Bills market since 2013, providing a platform which allows participants to trade prime bank paper and negotiable certificate of deposit (NCD) paper via a lit order book screen or via quote request. While the focus of the bills market is on the BBSW rate set, the system is available to participants throughout the Australian market trading day.

Yieldbroker is an “Approved Trading Venue” for the capture and reporting of trades for the VWAP calculated BBSW indexed rate when it begins in early 2018. We have developed functionality to support the ASX guidelines which is accessible to all institutional clients at zero cost.

Our platform provides significant post trade efficiencies in what has traditionally been a very manually intensive market, including STP, online stock allocations and daily reporting. This, combined with the Yieldbroker standard blotter and audit trail functionality, provides trading, compliance and support functions with the tools they need to operate their business in today’s market.

Our objective is to provide all participants in the bank NCD market the ability to transact quickly and easily with their selected counterparties, facilitate reporting obligations and reduce operational costs.