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Quantitative Finance · Begrippenlijst

Wat is Sponsored member?

Definition 28.3 Markets II: Rates, FX and Credit · Hoofdstuk 28 — Getting Access: Rates and Credit

A sponsored member is a firm admitted to a clearing house through a sponsoring member, which submits the sponsored member’s trades for clearing and guarantees its obligations to the clearing house.

Routes to cleared Treasury repo for a fund: sponsored membership through a bank, an agent clearing member that clears trades done with others, direct membership of the clearing house, and uncleared bilateral repo with a dealer, which the clearing mandate narrows. Schematic.
Figure 28.2. Routes to cleared Treasury repo for a fund: sponsored membership through a bank, an agent clearing member that clears trades done with others, direct membership of the clearing house, and uncleared bilateral repo with a dealer, which the clearing mandate narrows. Schematic.
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