AcadiaSoft speeds to market with Xpress
10 August 2015 Norwell, Massachusetts
Image: Shutterstock
AcadiaSoft, an electronic margining provider of over-the-counter (OTC) derivatives, has launched its latest platform offering, MarginSphere Xpress.
The new system, released on 6 August, allows users to utilise the existing messaging service for OTC derivatives communications to contact counterparties not connected to the service.
The Xpress email messaging service builds on AcadiaSoft’s MarginSphere 2 platform, launched in June, through AcadiaSoft clients’ existing email channel in conjunction with MarginSphere, by utilising standard message formats and sophisticated data transformation.
By bringing email-based counterparts on to the service, MarginSphere 2 clients can automate their entire margin call process on AcadiaSoft’s standard, secure and auditable solution.
Xpress aims to provide clients with substantial cost savings and allow them to capitalise on AcadiaSoft’s end-to-end margining capabilities, including initial margin reconciliation, margin calculation, disputes management and future TriOptima and DTCC integration, significantly improving their communication and processing capabilities.
David Radley, head of global sales for AcadiaSoft, said: "We expect Xpress to be a game changer for our clients. With Xpress, clients have the potential to reach virtually 100 percent of their client base.”
“The MarginSphere community continues to expand rapidly with nearly 125,000 active agreements on the service. Xpress allows our clients to broaden their reach, enhance security and improve communication on a global basis—all factors improving their return on investment.”
The launch comes off the back of recent news that ICAP is increasing its investment in AcadiaSoft in a joint venture between markets operator and post-trade risk mitigation service provider ICAP, DTCC and Euroclear, along with four banks and six additional investors.
The new system, released on 6 August, allows users to utilise the existing messaging service for OTC derivatives communications to contact counterparties not connected to the service.
The Xpress email messaging service builds on AcadiaSoft’s MarginSphere 2 platform, launched in June, through AcadiaSoft clients’ existing email channel in conjunction with MarginSphere, by utilising standard message formats and sophisticated data transformation.
By bringing email-based counterparts on to the service, MarginSphere 2 clients can automate their entire margin call process on AcadiaSoft’s standard, secure and auditable solution.
Xpress aims to provide clients with substantial cost savings and allow them to capitalise on AcadiaSoft’s end-to-end margining capabilities, including initial margin reconciliation, margin calculation, disputes management and future TriOptima and DTCC integration, significantly improving their communication and processing capabilities.
David Radley, head of global sales for AcadiaSoft, said: "We expect Xpress to be a game changer for our clients. With Xpress, clients have the potential to reach virtually 100 percent of their client base.”
“The MarginSphere community continues to expand rapidly with nearly 125,000 active agreements on the service. Xpress allows our clients to broaden their reach, enhance security and improve communication on a global basis—all factors improving their return on investment.”
The launch comes off the back of recent news that ICAP is increasing its investment in AcadiaSoft in a joint venture between markets operator and post-trade risk mitigation service provider ICAP, DTCC and Euroclear, along with four banks and six additional investors.
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