TA.Link, Trading Apps’ trade messaging service, is also part of the acquisition and will serve as the resiliency solution for EquiLend’s NGT platform
The move aims to allow institutional users the additional choice to hold USYC and cUSDO off-exchange, access to the Binance platform, and receive yield on their pledged collateral
The redesigned service uses the existing CLSSettlement platform, enabling CCPs to connect and submit bilateral settlement instructions on behalf of their clearing members
The definitive agreement is expected to close in the coming months, subject to regulatory approvals, applicable employee requirements and customary conditions