| Friday, May 7, 9:00 - 10:15 | view all sessions this time |
| Asset Management | view all sessions this track |
| 103 - Money Market Innovation: Tri-party Repurchase Agreements | |
| Repurchase agreements play a key role in the money market by providing channels for market participants to meet funding requirements, achieve investment return benchmarks, and to carry out alternative trading strategies. Recent market innovations are expanding the role these instruments play in the money market by positioning intermediaries in the deal flow, which adds efficiencies and opens repurchase agreement investing to a wider range of investors. This session will explore the history of the repurchase agreement and briefly examine the mechanics behind these transactions. An overview of buy-side and sell-side motivations will provide you with an understanding of the business behind repurchase agreements. An overview of repurchase agreement innovation will center on the introduction of the tri-party repurchase agreement, underlying mechanics, channel development, and ways in which tri-party repurchase agreements extends investment opportunities to a wider range of investors and sell-side participants by circumventing barriers to investment and enhancing deal efficiencies.
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| Learning Objectives: | |
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Understand tri-party repurchase agreement mechanics and differentiate among various settlement options |
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Gain insight into how the repo market impacts debt and equity markets |
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Identify repo market participants and associated participation motivation |
| Keneth Vallen, The Bank of New York Mellon Keneth Vallen is a senior analyst in the Investment Management Group at The Bank of New York Mellon Corporation. He is responsible short-term investment product development, enhancing existing liquidity management functionality, and short-term investment advisory. Vallen is also leading various market research and knowledge leadership initiatives within The Bank of New York Mellon Corporation. He previously held a position as associate director in the wealth management business banking group within UBS where he was responsible for client advisory and service delivery implementation across multiple business functions including cash management, securities settlements, foreign exchange, continuous linked settlements (CLS), and precious metals. Vallen received his BSBA from the University of Florida with a major in Decisions and Information Sciences and his MBA from the University of Connecticut.
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