Tri-party survey LIVE

Tri-party survey LIVE

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Respondents are required to rate their tri-party agents across 15 service categories on a scale of 1 to 7, where 1 is unacceptable and 7 is excellent. Respondents are also invited to answer questions about their own tri-party requirements.

Respondents will be able to fill out the survey HERE

METHODOLOGY 

Unweighted tables 

To calculate unweighted tables, a simple average of all relevant responses for each tri-party agent is generated to create a score.

Weighted tables 

Respondents are required to rank 15 service categories in order of importance. The rankings of all respondents are then combined to create weightings for each service category.

The more important a category is considered, on average, by all respondents, the greater the weighting. Therefore, tri-party agents that score highly in the service categories considered most important by respondents will obtain a higher weighted score.

These weightings are normalised around 1 (between 0 and 2) to preserve comparability with unweighted scores. A firm’s unweighted score for a particular category is multiplied by the weighting for that category to create its weighted score.

Tables: 

The following tables will be calculated:

Global table

Tri-party agents must receive minimum of 12 responses globally and must qualify in two regions to qualify. Weighted and unweighted tables are generated.

Regional overall tables

To qualify in each of the three regions tri-party agents need a minimum number of responses (across repo, securities lending and other collateral management respondents). The respondent’s location (not the tri-party agent’s) defines where the response is allocated. Weighted and unweighted tables are generated. The minimum number of responses for each region are as follows:

·         Emea: 7 responses

·         Americas: 7 responses

·         Asia Pacific: 5 responses

Global repo table

Repo respondent’s scores are averaged to give a score for each qualifying agent. A minimum of five responses is required to qualify globally. Weighted and unweighted tables are generated.

Global securities lending table

Securities lending respondent’s scores are averaged for each qualifying agent. A minimum of five responses is required to qualify. Weighted and unweighted tables are generated.

Global other collateral management table

Other collateral management refers to all activities that are not covered by securities lending or repo. This includes but is not limited to: CSA activities (e.g. OTC derivatives); bespoke credit agreements; central bank access; and CCP access. Scores are averaged for each qualifying agent. A minimum of five responses is required to qualify. Weighted and unweighted tables are generated.

Global service categories

Tables are generated for each of the 15 service categories. These tables include all respondents’ scores, globally, and for repo, securities lending and other. Tri-party agents must receive a minimum of 12 responses globally and must qualify in two regional tables to qualify. Only unweighted tables are generated.

Service categories  

Respondents are asked to rate their tri-party agents across the following 15 service categories:

•             Ability to create bespoke schedules

•             Ability to manage equities as collateral

•             Access to counterparties

•             Accuracy of margin calls

•             Breadth of market coverage

•             Breadth of supported eligibility criteria

•             Collateral re-use/re-hypothecation

•             Dividend collection

•             Implementation of collateral sets/schedules

•             Level of STP offered

•             Quality of client service

•             Quality of reporting/client Interface

•             Quality of static data

•             Substitution capability

•             Innovation


Qualification 


If a tri-party agent is rated multiple times by the same respondent in the same country the ratings will be averaged and will only count as a single response for the purposes of qualification.

 

 

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