Repurchase agreement (repo) post-trade services are currently fragmented, complex, and inefficient. Barclays wants to push the industry to come together on better tech solutions for all.

Barclays is hosting a “RepoHack” event in London this fall to prod the industry to collaborate on better data and technology architecture for repurchase agreement (repo) post-trade services.  

Right now, market participants each build, operate, and maintain their own individual repo trade management infrastructure, but Barclays is pushing adoption of the Fintech Open Source Foundation’s common domain model (CDM) standards.  

The hackathon will bring banks, fintechs, and infrastructure firms together to prototype solutions for consistent, accurate data exchange. Applications are now open, and the event will take place at Barclays’ London office in September.  

“This will be an opportunity to transform the industry by using and improving standards that the entire industry can get behind,” Barclays executive Lee Braine told Finextra. “Something like this enables participants to experiment and discuss with peers what is happening at the cutting edge of the space.”