Pirum extends North America offering 29 January 2019London Reporter: Maddie Saghir
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Pirum has extended its North American offering with US domestic tri-party connectivity.
Building on its existing real-time connectivity to the four international tri-party agents, it is now available to assist clients in calculating and instructing tri-party collateral requirements (RQV) for US domestic tri-party.
According to Pirum, the RQV service has accelerated dramatically over the last two years, calculating more than $1.4 trillion of collateral requirements daily.
Meanwhile, as well as the tri-party automation, Pirum’s ExposureConnect and CollateralConnect products offer institutions a collateral management solution.
This is set to enable clients to manage collateral in a global and centralised manner, Pirum revealed.
Pirum, CEO Rajen Sheth, said: “This is an exciting development for our North American product offering an important addition to Pirum’s exposure and collateral management services.”
“Adding US domestic tri-party connectivity was a high priority for our clients as the market evolves to support broader forms of collateral and I am pleased Pirum can support these developments.”
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