Clearstream and Pirum extend collaboration to boost collateral connectivity
04 August 2022 Luxembourg
Image: Hurca!/stock.adobe.com
Clearstream and Pirum Services have extended the services offered through their cooperation to support improved collateral connectivity.
This will enable mutual clients to automate calculation, matching, delivery and validation of collateral terms and allocations across their securities finance transactions and OTC derivatives activity.
The two firms indicate that this arrangement will enable users to agree collateral in real-time, improving settlement efficiency and reducing collateral timeframes.
Clearstream banking, funding and financing executive Jean-Robert Wilkin says: “At Clearstream, providing user-friendly, efficient services supported by best-in-class technology is at the heart of our mission. We [are extending] our existing connectivity with Pirum, which contributes perfectly to this goal.
“By automating collateral management services, we increase interoperability and reduce complexity throughout the entire process for our mutual clients and the whole market.”
Pirum’s head of collateral services, Todd Crowther, adds: “We are [extending] our connectivity with Clearstream and [working] together to help mutual clients achieve improved exposure management and collateral optimisation results.
"Our aim is to support the industry’s need to extend interoperability and automation across the wider collateral ecosystem and support market participants’ drive to streamline and centralise margin management across all collateralised products.”
Deutsche Börse-owned Clearstream and securities finance post-trade technology specialist Pirum agreed a cooperation agreement in November 2017, initially to provide mutual clients with real-time exposure visibility and automated triparty required value (RQV) solutions for their securities finance transactions.
This will enable mutual clients to automate calculation, matching, delivery and validation of collateral terms and allocations across their securities finance transactions and OTC derivatives activity.
The two firms indicate that this arrangement will enable users to agree collateral in real-time, improving settlement efficiency and reducing collateral timeframes.
Clearstream banking, funding and financing executive Jean-Robert Wilkin says: “At Clearstream, providing user-friendly, efficient services supported by best-in-class technology is at the heart of our mission. We [are extending] our existing connectivity with Pirum, which contributes perfectly to this goal.
“By automating collateral management services, we increase interoperability and reduce complexity throughout the entire process for our mutual clients and the whole market.”
Pirum’s head of collateral services, Todd Crowther, adds: “We are [extending] our connectivity with Clearstream and [working] together to help mutual clients achieve improved exposure management and collateral optimisation results.
"Our aim is to support the industry’s need to extend interoperability and automation across the wider collateral ecosystem and support market participants’ drive to streamline and centralise margin management across all collateralised products.”
Deutsche Börse-owned Clearstream and securities finance post-trade technology specialist Pirum agreed a cooperation agreement in November 2017, initially to provide mutual clients with real-time exposure visibility and automated triparty required value (RQV) solutions for their securities finance transactions.
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