Tri-Party Connectivity (RQV)

Tri-Party Connectivity (RQV)

Tri-Party Connectivity allows collateral providers and collateral receivers to agree required values (RQVs) and send the agreed-upon figures to the tri-party agent. The service is available if both counterparties are using EquiLend’s Tri-Party Connectivity service or if only one client is using it.

How It Works

  • Collateral receiver and/or provider submits RQVs to EquiLend

  • EquiLend compares counterparties’ values against each other and facilitates the resolution of discrepancies

  • When the values match or fall within a provider’s tolerance, EquiLend sends the figures on behalf of both parties to the tri-party agent

  • The tri-party agent sends response messages acknowledging receipt of the figures, which EquiLend processes to generate individual status updates on the screen

  • The collateral receiver and the collateral provider each submit their RQVs to EquiLend

Features

  • Bulk submit RQVs via one XLS upload for all counterparties

  • Collateral provider submits aggregate value for a group of instructions; receiver determines breakdown by submitting values at individual fund level

  • Receive response messages from the tri-party agent to know the real-time statuses of RQVs

  • Allegement messages with trade details displayed when a counterparty not using EquiLend is first to submit, so EquiLend clients can quickly and accurately respond

  • Collateral providers can set value & percentage tolerances on each instruction to facilitate comparison—not necessary to agree exact values

  • Receive alert if instruction sent to tri-party agent requires action

Mark-to-Market Comparison

Mark-to-Market Comparison allows users to compare mark values, prices and other loan details for cash and non-cash loans. Customizable tolerances and rules can be applied based on collateral currency and mark amount to auto-mark records. Mark-to-Market Comparison offers the ability to automatically submit Security Payment Order (SPO) charges directly from the screen to DTCC (for U.S. securities).
WHO WE ARE

EquiLend is a financial technology provider of trading, post-trade, market data, regulatory and clearing services for the securities finance, collateral and total return swaps industries. EquiLend has offices in New York, Boston, Toronto, London, Dublin, Hong Kong and Tokyo.

Iain Mackay
Global Product Owner
Post-Trade Services
+44 20 7426 4402

Rowena Brown
Director
CRM
+44 20 7426 4412