RepoConnect is Pirum’s dedicated Repo and buy-sell back real-time matching, reconciliation and lifecycle automation service. With over 250,000 Repo trades currently processed daily, RepoConnect allows clients to match all key trade economics and lifecycle events with 100% of their counterparties on both the buy and sell side. In addition, RepoConnect allows clients to process pair-offs, coupon claims and other lifecycle events within the same, centralized platform.
In tandem with reducing settlement costs and penalties through trade matching and reconciliation, RepoConnect also enhances settlement efficiency through Pirum’s extensive network of triparty and custodial connectivity.
Robert Frost, Global Head of Product at Pirum said: “We are hugely excited to launch our RepoConnect service which will help Repo participants seamlessly match and agree their Repos and process lifecycle events accurately and efficiently. With the advent of settlement fail penalties under CSDR, ensuring contract changes are in line and related movements agreed will only become more important. RepoConnect is a key product that we are launching as part of our FutureTech Initiative as we continue to automate processes across the securities finance trade lifecycle”.