London Reporting House and majority owner Kaizen announced that its combined team has been crowned winners at the Barclays RepoHack 2023, which focused on processing of repo trades by integrating the repo Common Domain Model (CDM). The Hackathon was hosted by Barclays Bank and other organizations, with competitors from Barclays, J.P. Morgan, CapGemini, Transcend, TradeHeader, and Lab 49.
Participants were tasked with crafting a seamless trade execution process and interface, all while spotlighting post-trade innovations through CDM. The winning team devised a system that harnessed CDM objects to facilitate the smooth transfer of transaction data between post-trade systems and Securities Financing Transactions Regulation (SFTR) reports.
By using CDM’s consistent and digital trade representation, the team were able to sidestep redundant data reconciliation, thus accelerating the transition from trade execution to in-depth data analysis.