December 8, 2023 (NO COMMENTS)

UK bank’s tech group believes repo market is primed for new data standards

Mandatory clearing of US Treasury repo could be a catalyst for the adoption of a much-hyped data standardisation model that has so far struggled to gain traction in the markets.

Proponents of the common domain model (CDM), a machine-executable industry standard originally devised by the International Swaps and Derivatives Association, say it could save dealers at least $3 billion a year in swaps reconciliation and post-trade processing costs. But the model has so far seen patchy take-up among