Citi and JP Morgan vie to extend collateral optimisation to CCPs

High rates and increasing collateral requirements have ignited race for greater efficiency

Collateral optimisation

Two of the largest US banks are backing new initiatives aimed at optimising collateral posted to clearing houses. 

In November, JP Morgan expanded its CCP Margin Exchange service to 13 clearing houses via a tie-up with Baton Systems. 

That same month, Citi became an investor in collateral vendor Transcend, which runs a tri-party optimisation service covering 20 central counterparties. 

The benefits are not small – they are in the millions of dollarsBimal Kadikar, Transcend

Both services aim to cut

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