Wematch platform gains tax ID exchange tool
01 April 2020 London
Image: Shutterstock
Wematch’s securities financing platform can now enable lenders to disclose tax IDs and fund codes when negotiating trades.
Wematch is a global multi-asset-class, web-based matching and negotiation platform that aims to provide software-as-a-service technology to transform how traders match, negotiate and manage trades.
Through the new tool, lenders can upload the list of tax IDs and fund codes at the pre-trade level which will avoid all the usual post-trade complexity and “massively reduces” operational risks which can sometimes jeopardise a deal, explains David Raccat, co-founder and head of Europe, the Middle East and Africa (EMEA).
The ability to exchange this information early on in the trade lifecycle will become more important once the Securities Financing Transaction Regulation comes into play in July, he adds.
Raccat tells SLT that the Wematch platform is seeing interest from the buy-side community grow “significantly” and is responding by upgrading its negotiation model.
“I believe the flexibility we are offering to both lenders and borrowers is pretty unique in the market,” he says. “We will keep adapting our matching and negotiation protocols to enrich the level of information provided to both the lender and the borrower with a specific focus on enhancing the workflow and addressing risk management.”
Today’s launch comes shortly after Wematch introduced a lifecycle management toolkit for Total Return Swaps (TRS) in EMEA and in the US.
Users can use the tool to import TRS trades into the platform and to run a series of lifecycle/collateral optimisation actions with a low-touch approach.
Wematch is a global multi-asset-class, web-based matching and negotiation platform that aims to provide software-as-a-service technology to transform how traders match, negotiate and manage trades.
Through the new tool, lenders can upload the list of tax IDs and fund codes at the pre-trade level which will avoid all the usual post-trade complexity and “massively reduces” operational risks which can sometimes jeopardise a deal, explains David Raccat, co-founder and head of Europe, the Middle East and Africa (EMEA).
The ability to exchange this information early on in the trade lifecycle will become more important once the Securities Financing Transaction Regulation comes into play in July, he adds.
Raccat tells SLT that the Wematch platform is seeing interest from the buy-side community grow “significantly” and is responding by upgrading its negotiation model.
“I believe the flexibility we are offering to both lenders and borrowers is pretty unique in the market,” he says. “We will keep adapting our matching and negotiation protocols to enrich the level of information provided to both the lender and the borrower with a specific focus on enhancing the workflow and addressing risk management.”
Today’s launch comes shortly after Wematch introduced a lifecycle management toolkit for Total Return Swaps (TRS) in EMEA and in the US.
Users can use the tool to import TRS trades into the platform and to run a series of lifecycle/collateral optimisation actions with a low-touch approach.
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