SG selects Lombard's COLLINE 12 July 2011London Reporter: Ben Wilkie
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Société Générale is to use Lombard Risk's COLLINE collateral management solution. This major contract is expected to generate revenues of more than £2 million in the first two years and contribute to future years.
Colline is a web-based solution designed for end-to-end, cross-product collateral management. It provides a consolidated solution for mitigating credit risk while meeting the growing demand for multiple global entities, cross-product margining, central counterparty clearing (CCP), MIS reporting and electronic messaging.
Société Générale Corporate & Investment Banking will use Lombard Risk’s COLLINE system to handle its global collateral management operations in six countries across Europe, the Americas and Asia. The bank has licensed the full suite of collateral management modules to create a solution that covers all the financial product sectors (ie, OTC derivatives, repo and securities lending) and has full clearing and MIS reporting functionality.
John Wisbey, CEO of Lombard Risk, commented: "We are delighted to have Société Générale as another tier one client for COLLINE and our first tier one client for our new advanced MIS Reporting module. Two of the most active trading banks in Europe have now chosen COLLINE to manage their collateral worldwide".
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