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BNY Mellon may buy DBV-X platform

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BNY Mellon may buy DBV-X platform

is in talksto buy DBV-X, in a move that would see it enter Europe's repurchase trading scene.According to an April 26 article in the FinancialTimes, DBV-X, which was meant to be launchedin the last quarter of 2015, has instead separated from Compagnie Financière Tradition SA, specifically the latter'sinterdealer broking arm, Tradition.

According toa separate FT article, Tradition is replacingthe repo trading venue with collateral trading platform Elixium. Tradition has appointedfixed-income trader Nick McCall to run it and hired Roberto Verrillo, former sterling ratestrader, as head of strategy and markets; Nick Van Overstraeten, former fixed-income director,as director of product development; and Iona Levine, former LCH Clearing generalcounsel, as special adviser. It also named Gabrielli Frediani chief business developmentofficer.

Euroclear willserve as Elixium's tri-party repo agent, as it was for DBV-X.