Bloomberg Facilitates ICBC to Execute Cross-border Tri-Party Repo Transactions

Beijing – Bloomberg today announced that the Industrial and Commercial Bank of China (ICBC) has completed multiple foreign currency tri-party repo transactions using foreign currency bonds as collateral, supported by Bloomberg AIM and VCON solutions. ICBC is the first financial institution in China to execute such transactions.

As the world’s largest bank by total assets, ICBC has been actively expanding its trading capabilities and strengthening connectivity in both domestic and international markets. Over time, the bank has developed a comprehensive repo product suite – from buyout repos to cross-currency repos – to meet diverse transaction needs.

Tri-party repos, widely used for liquidity management, involve a third-party agent managing collateral after counterparties agree on terms. These transactions enhance capital efficiency, lower costs, and support participation in international markets. Bloomberg AIM supports tri-party repos by offering clients tools to help automate repo matching, while VCON provides affirmation and processing workflows, which improve efficiency, reduce operational risks, and streamline communication with counterparties and clearing agents.

“With Bloomberg’s technical support, we are pleased to have completed China’s first foreign currency tri-party repo,” said Wang Hailu, General Manager of ICBC’s Global Markets Department. “As a widely used form in global financial markets, tri-party repos offer participants an efficient, low-risk way to engage in repo transactions. Looking ahead, we’re committed to working with more financial institutions to advance the foreign currency repo market in China and help strengthen the interbank foreign currency money market.”

“We are proud to support ICBC in completing the first tri-party repo transaction,” said Bing Li, Asia-Pacific Chairman at Bloomberg. “As markets increasingly focus on capital efficiency and risk management, Bloomberg remains committed to helping clients achieve these goals through our technology and data solutions, and to connecting more Chinese financial institutions with global markets.”

Bloomberg AIM is a leading order and investment management technology solution, with multi-asset decision support and portfolio management, order management, trade compliance and post-trade workflows. Bloomberg is used by nearly 15,000 professionals at over 900 client firms globally to manage more than $22 trillion in assets.

VCON, a leading post-trade affirmation service that optimizes the voice trading process, is part of Bloomberg’s Electronic Markets offerings which are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9000 client firms use Bloomberg Electronic Markets to access industry leading depth and breadth of liquidity across asset classes from over 1,500 dealers globally. Bloomberg Electronic Markets provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation and execution, powered by Bloomberg’s high-quality, multi-asset class data and tools.

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Irene Gu, igu3@bloomberg.net, +852-2977-2111

Tingyu Liu, tliu554@bloomberg.net, +86-10-8642-0337