ECLiPSing rivals

ECLiPSing rivals

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Standard Chartered launched ECLiPSe over two years ago. What was the inspiration behind it? 

Luke Brereton: Standard Chartered Execution, Clearing, Liquidity and Portfolio Services, or ECLiPSe, is our answer to the changing market and regulatory paradigm. With global regulation of OTC derivatives, there will be three ways to trade these products: mandatory clearing, voluntary clearing and bi-laterally. ECLiPSe provides an efficient and comprehensive solution to cover all three. 

So how does ECLiPSe help your clients? 

Brereton: Our Clearing service helps clients comply with regulations as well as provide access to liquidity hubs with the pricing and operational advantages of clearing. The Intermediation service for both FX and interest rate derivatives helps clients to access interbank liquidity (trading under Standard Chartered’s name) and subsequent portfolio netting benefits. 

ECLiPSe provides clients with real-time trade acceptance and limit utilisation, and cross service netting, thereby providing a consolidated exposure measure across the permitted ISDA netting set, offset with collateral collected under various credit agreements. 

What level of service are your clients enjoying? 

Brereton: We have a dedicated client service team that provides consolidated reporting, margin statements, collateral management and operational services to cover cleared, intermediated and bilateral trades with Standard Chartered Bank, which is operationally more efficient and potentially more cost effective than facing off against multiple dealers. Clients can access their IRD and FX portfolio with Standard Chartered via the web portal.

ECLiPSe also provides our clients with regular portfolio compression analysis to optimise capital usage and portfolio analytics such as “IM Optimiser”, “IM and VM Forecast”, “Sensitivities”, “Scenario Analysis and Shocks” and “What-if Scenario”. 

Standard Chartered has been developing the repo business for a few years now especially across Asia and you seem to be growing steadily. Give us a quick download of what you offer.

Ed Donald: We offer a competitively priced range of Fixed Income Repo products acting as principal, trading actively in G3 currency Government bond repo as well as on supranationals, financials, corporates, emerging market debt and local currency Government Bonds. 

Our team of experienced and dedicated traders and sales professionals based in Hong Kong, Singapore, Dubai, Johannesburg, London and New York gives us excellent access to global repo and funding markets. We are focused on delivering real solutions for clients ranging from liquidity management, collateral optimisation, yield enhancement, financing trades and can execute in most Asian local currency repo markets as well as the more liquid G3 markets. 

So how else do you help your clients? 

Donald: Through the strength of Standard Chartered Bank’s balance sheet, we find that our clients value consistency of liquidity in terms of pricing as well as on balance allocation. Many clients are currently getting closed out by banks who cut their balance sheet during the periods where it is most needed. At Standard Chartered, our clients tell us that they find our offering of consistency attractive. 

We work to understand the regulatory pressures that affect our clients now and in the future globally, where there is different application and speed of Basel III implementation. Through our global network, we can help our clients with collateral transformation, optimisation and short term liquidity management. Finally, we are also seeing increasing requirements for cross-currency repo across our footprint, and we are best positioned to meet these needs given our strong FX franchise.


For enquiries, please contact:

Luke Brereton

Co-Head of ECLiPSe

Luke.bereton@sc.com

+65 6557 8216


Ed Donald

Global Head of Repo Trading

Ed.donald@sc.com

+442078855524


Andrew Sterry

Co-Head of ECLiPSe

Andrew.Sterry@sc.com

+44 20 7885 7808


Terence Gan

Global Head of Rates and

Money Markets Financing

Sales

Terence.gan@sc.com

+65 65966196

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