Our direct clearing access suite for the buy side (ISA Direct) combines elements of a direct clearing membership and the traditional service relationship in client clearing - tailored specifically for the buy side. It opens up a new principal client relationship between buy side clients and the CCP, with the regular Clearing Member acting as a Clearing Agent, providing a variety of mandatory and optional service functions. ISA Direct comprises of the three access models
providing direct clearing access for OTC IRD and Repo.
ISA Direct Clearing Model | Typical client | Scope | Markets |
Investment Funds (UCITS, AIFMD), | Own transactions | Repo/GC Pooling, OTC IRD | |
Hedge funds (AIF), | Own transactions | Repo/GC Pooling | |
(Re)Insurance Undertakings, Corporate Clients | Own transactions | GC Pooling* |
*Net cash provider at all times
Key features
