June 2023

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This report provides details on the global triparty agent business as reported by triparty agents themselves. Finadium conducted a survey of agents on balances, collateral holdings, operational functionalities, perspectives on tokenization, and other market trends in Q2 2023. This report is part of our regular series of triparty agent surveys starting in 2014.

The survey results show a sharp increase in triparty assets from previous years. The current value of triparty agent holdings is US$8.87 trillion, up from US$6.15 trillion in 2021 and nearly double the value in 2014. This increase shows the trust that financial market participants have placed in triparty’s flexible outsourcing model, as well as the impact of central bank monetary expansion during the COVID-19 response, a portion of which has wound up in repo and other collateralized assets.

Triparty agents have a vested interest in the future of tokenization, digitization and digitalization, and are making efforts to develop products and services to meet market needs. A global standard for an industrial-grade Distributed Ledger Technology (DLT) platform remains a goal, while triparty agents are responding to client requests for discrete solutions across the digitization of documentation, data exchange and reporting. These projects are expected to continue.

This survey shows part of the depth and scale of triparty activities today. It should serve to assist market participants with gaining a better understanding of the reality of the triparty business model.

Table of Contents

  • Executive Summary
  • A Leap in Triparty Assets
  • Market Sizing
    • – Geographic and Product Breakdown
    • – Comparing Survey Data to Public Data
  • Collateral Holdings
  • Operational Functionalities
    • – Collateral Optimization
    • – Interoperability
  • Tokenization, Digitization and Digitalization
    • – Cryptocurrencies
  • What Triparty Agents Are Focusing On
    • – Market Trends and Segment Growth
  • About Finadium LLC

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