Euroclear: Euroclear Introduces US Treasury Delivery-Versus-Payment Repo Service

Euroclear has recently announced that it has launched a US Treasury Delivery-Versus-Payment (DVP) repo service. The solution is designed "for US Treasury repo market participants operating in the US settling USD transactions." The first trade was completed on 6 February 2025 "between Euroclear Bank and Toronto Dominion Bank London." The service offers cash lenders similar operational "efficiency for DVP repo transactions as triparty repo transactions." It optimises DVP repo settlement via FedWire Securities Services, thereby