The move aims to allow institutional users the additional choice to hold USYC and cUSDO off-exchange, access to the Binance platform, and receive yield on their pledged collateral
The partnership will allow mutual clients to access the Depository Trust & Clearing Corporation's National Securities Clearing Corporation SFT clearing service
Through the collaboration, LCH will extend its product scope to include the clearing and settlement of CNH FX options, forwards, swaps and spot transactions
The transaction took place between UBS and Swiss Re in February, where UBS borrowed cash from Swiss Re while delivering collateral through BNY's platform
Following an approval from the Financial Industry Regulatory Authority, the broker-dealer adds correspondent clearing, fixed income prime brokerage, and securities lending to its offerings
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