Pirum integrates BNY Mellon’s collateral schedules into CollateralConnect
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Pirum integrates BNY Mellon’s collateral schedules into CollateralConnect 09 February 2022US Reporter: Carmella Haswell
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Pirum has announced the inclusion of BNY Mellon’s North American collateral schedules within its CollateralConnect service.
The integration leverages BNY Mellon’s automated delivery service and fuses together the firm’s triparty schedule and collateral acceptability data within Pirum’s collateral management services.
CollateralConnect provides a real-time, centralised view of margin obligations, digitised eligibility, and global inventory management capabilities to manage collateral across all major venues and products, including securities lending, repo, and derivatives.
The service can now be leveraged by North American clients to achieve an enterprise-wide solution, which centralises their collateral management across various collateral venues and underlying products.
The extension of the digitised eligibility service to include the additional BNY Mellon triparty schedules allows businesses to drive smarter decision-making and support advanced, algo-based collateral optimisation.
According to Pirum, this drives efficient management of collateral sources and uses, optimises collateral deployment, and supports decision making to raise or transform collateral to better meet margin obligations.
Commenting on the announcement, Bob Zekraus, COO and head of Americas at Pirum, says: “With the addition of BNY Mellon’s North American triparty collateral schedules, our clients in the region can now benefit from those digitised eligibility schedules as part of their efforts to achieve efficient collateral management by providing an automated centralised schedule repository across all their margin activities.”
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