Pirum expands into pre-trade for equities and fixed income
17 September 2024 UK
Image: stock.adobe.com/Cagkan
Pirum has expanded its coverage to include pre-trade for equities and fixed income with new platform, Pirum TradeConnect.
Integrated with the firm’s post-trade services, the new platform is a global, standardised, and open pre-trade connectivity solution for equities and fixed income.
Rob Frost, chief product officer at Pirum, will spearhead the development.
According to the firm, the solution enables clients to connect directly and in any format to any securities finance industry participant, bilaterally or via a venue.
The solution is designed to improve control and choice by allowing trading desks to access alternative liquidity and enabling them to decide who to connect with, how they communicate and when they interact.
Further, the firm has designed the solution to provide improved resilience and risk mitigation, increased operational efficiency, and reduced cost — as a result of fewer fails, penalties and overdraft costs, the company says.
Once live, the service extends Pirum’s offering, which already covers post-trade and collateral management, across the entire securities finance trade lifecycle.
Pirum’s service suite now brings together all lifecycle requirements for clients: front and back office, pre and post-trade, and collateral management.
Frost comments: “Pirum TradeConnect represents a qualitative leap, with clients gaining more control, more transparency and more security than with other existing solutions. Pirum TradeConnect also makes the industry more diversified and resilient, as it provides a trusted alternative to the current market infrastructure.
“Modernising reporting and standardising communication between counterparts will also improve transparency in the equities and fixed income space, as well as increase liquidity through improved choice, availability, and management information for industry participants, globally.”
Phil Morgan, CEO at Pirum, adds: “We are proud to bring to market this transformative solution, which synthesises pre-trade with existing post-trade and collateral management services, and is the next step on the journey of automation — marking a new era of choice, resilience and transparency for securities finance.
“Pirum TradeConnect democratises the industry by giving participants the power to decide who they trade with, where, when and how.”
Integrated with the firm’s post-trade services, the new platform is a global, standardised, and open pre-trade connectivity solution for equities and fixed income.
Rob Frost, chief product officer at Pirum, will spearhead the development.
According to the firm, the solution enables clients to connect directly and in any format to any securities finance industry participant, bilaterally or via a venue.
The solution is designed to improve control and choice by allowing trading desks to access alternative liquidity and enabling them to decide who to connect with, how they communicate and when they interact.
Further, the firm has designed the solution to provide improved resilience and risk mitigation, increased operational efficiency, and reduced cost — as a result of fewer fails, penalties and overdraft costs, the company says.
Once live, the service extends Pirum’s offering, which already covers post-trade and collateral management, across the entire securities finance trade lifecycle.
Pirum’s service suite now brings together all lifecycle requirements for clients: front and back office, pre and post-trade, and collateral management.
Frost comments: “Pirum TradeConnect represents a qualitative leap, with clients gaining more control, more transparency and more security than with other existing solutions. Pirum TradeConnect also makes the industry more diversified and resilient, as it provides a trusted alternative to the current market infrastructure.
“Modernising reporting and standardising communication between counterparts will also improve transparency in the equities and fixed income space, as well as increase liquidity through improved choice, availability, and management information for industry participants, globally.”
Phil Morgan, CEO at Pirum, adds: “We are proud to bring to market this transformative solution, which synthesises pre-trade with existing post-trade and collateral management services, and is the next step on the journey of automation — marking a new era of choice, resilience and transparency for securities finance.
“Pirum TradeConnect democratises the industry by giving participants the power to decide who they trade with, where, when and how.”
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