Wematch and Pirum Systems partner on front-to-back securities lending offering
12 June 2020 London
Image: Gauss/Shutterstock.com
Wematch and Pirum have partnered to develop a fully-integrated front-to-back securities finance transaction service solution for mutual clients leveraging the Wematch platform.
The Wematch platform offers a set of web-based tools designed to enhance the dealing process of financial institutions.
Its solutions are based around tailored matching, smart negotiation engines and life cycle
management workflows are is focused on securities financing, over-the-counter (OTC) equity derivatives, exchange-listed Delta One and OTC cleared interest rates derivatives.
Through the new partnership, clients can now match and negotiate securities lending trades in Wematch and leverage connectivity with Pirum to manage all post-trade lifecycle events, the firms explain.
The first end-to-end securities finance transactions were executed by Bank of America on 10 June and processed in a fully interoperable manner between the organisations, says Wematch.
Wematch tells SLT that it has contacted all dealers and financial institutions and plans to onboard more of them in the coming weeks.
Wematch co-founder and head of Europe, the Middle East and Africa, David Raccat, says: “The interoperability with Pirum on securities lending is completing our current offering with a fully low-touch workflow and we are convinced this upgraded setup will benefit all dealers.
“The pre-trade workflow we have built in Wematch combined with the best-in-class post-trade offering of Pirum will make the whole process seamless and very powerful.”
Robert Frost, head of product development at Pirum, adds: “As a result of consistent client interest, we are excited to add Wematch to our growing connectivity hub, which now includes trade repositories, central counterparties, data providers, triparty venues as well as trading platforms.
“It has been a pleasure working with the innovative team at Wematch and we look forward to enabling market participants to GetConnected as they automate their trading activity.”
The Wematch platform offers a set of web-based tools designed to enhance the dealing process of financial institutions.
Its solutions are based around tailored matching, smart negotiation engines and life cycle
management workflows are is focused on securities financing, over-the-counter (OTC) equity derivatives, exchange-listed Delta One and OTC cleared interest rates derivatives.
Through the new partnership, clients can now match and negotiate securities lending trades in Wematch and leverage connectivity with Pirum to manage all post-trade lifecycle events, the firms explain.
The first end-to-end securities finance transactions were executed by Bank of America on 10 June and processed in a fully interoperable manner between the organisations, says Wematch.
Wematch tells SLT that it has contacted all dealers and financial institutions and plans to onboard more of them in the coming weeks.
Wematch co-founder and head of Europe, the Middle East and Africa, David Raccat, says: “The interoperability with Pirum on securities lending is completing our current offering with a fully low-touch workflow and we are convinced this upgraded setup will benefit all dealers.
“The pre-trade workflow we have built in Wematch combined with the best-in-class post-trade offering of Pirum will make the whole process seamless and very powerful.”
Robert Frost, head of product development at Pirum, adds: “As a result of consistent client interest, we are excited to add Wematch to our growing connectivity hub, which now includes trade repositories, central counterparties, data providers, triparty venues as well as trading platforms.
“It has been a pleasure working with the innovative team at Wematch and we look forward to enabling market participants to GetConnected as they automate their trading activity.”
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