Acadia onboards more than 1000 firms under UMR Phase 6
08 September 2022 US
Image: AdobeStock/Irene
Acadia reports that it has onboarded more than 1000 counterparty groups on to its AcadiaPlus platform falling into scope of Phase 6 of the Initial Margin obligations of the Uncleared Margin Rules (UMR).
The Massachusetts-based derivatives and risk management solutions vendor indicates that close to 900 firms are actively monitoring their regulatory IM exposure through Acadia’s IM Threshold Monitor and more than 200 firms are contracted to use its IM Exposure Manager tools for calculating and reconciling their IM exposure, utilising either the ISDA SIMM or schedule methodology.
Acadia predicts that these firms will go live with these solutions during the coming 90 days, with more than 50 of these having moved margin since the 1 September enactment date for UMR Phase 6.
Chris Walsh, Acadia’s CEO says: “Bringing these firms into the Acadia fold and onto our robust AcadiaPlus platform is the result of a year’s long effort to work closely with our global clients and their regulators to provide the highest quality infrastructure while minimising costs and complexities across the entire margin, collateral and risk management cycle.”
Acadia co-head of business development Stuart Smith says: “We appreciate the opportunity to partner with our UMR clients. We will continue to service clients with their post-trade margin workflow processes and [will] continue our relationships by further investing in areas such as pre-trade analytics, optimisation, agreement management, payments, and data exploration.”
According to Acadia, AcadiaPlus is a standard, open communications platform used by the derivatives industry with specialist applications and a third-party partner ecosystem that enables straight-through-processing of the entire risk-mitigation lifecycle.
The Massachusetts-based derivatives and risk management solutions vendor indicates that close to 900 firms are actively monitoring their regulatory IM exposure through Acadia’s IM Threshold Monitor and more than 200 firms are contracted to use its IM Exposure Manager tools for calculating and reconciling their IM exposure, utilising either the ISDA SIMM or schedule methodology.
Acadia predicts that these firms will go live with these solutions during the coming 90 days, with more than 50 of these having moved margin since the 1 September enactment date for UMR Phase 6.
Chris Walsh, Acadia’s CEO says: “Bringing these firms into the Acadia fold and onto our robust AcadiaPlus platform is the result of a year’s long effort to work closely with our global clients and their regulators to provide the highest quality infrastructure while minimising costs and complexities across the entire margin, collateral and risk management cycle.”
Acadia co-head of business development Stuart Smith says: “We appreciate the opportunity to partner with our UMR clients. We will continue to service clients with their post-trade margin workflow processes and [will] continue our relationships by further investing in areas such as pre-trade analytics, optimisation, agreement management, payments, and data exploration.”
According to Acadia, AcadiaPlus is a standard, open communications platform used by the derivatives industry with specialist applications and a third-party partner ecosystem that enables straight-through-processing of the entire risk-mitigation lifecycle.
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