BNP Paribas integrates Pirum connectivity in Triparty Collateral Services
09 October 2024 UK
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Pirum has integrated its connectivity services with the Triparty Collateral Services of BNP Paribas’ Securities Service business to provide mutual clients with real-time, automated exposure and collateral management solutions.
Through this collaboration, mutual clients of both firms gain automated exposure and collateral management processing visibility, efficiency and transparency across their securities lending, repo, and over-the-counter (OTC) derivative transactions.
Frédéric Pascal, head of market and financing services, Securities Services, BNP Paribas, says: “The connection between Pirum and our Triparty Collateral Management platform is a major milestone in the development of our franchise.
“Our goal has always been to help clients deliver on their securities finance strategy while making the move to Triparty as easy as possible. With Pirum as a new partner, we are excited to be able to keep on delivering on that promise to our mutual clients.”
Pirum automates the management of the entire collateral lifecycle — from calculation and matching to submission and validation of collateral requirements and allocations.
Pirum’s Exposure Management service is designed to enable clients to reduce settlement fails and Central Securities Depositories Regulation (CSDR) penalties, as well as collateralisation timeframes while increasing operational efficiencies for all participants.
Rob Frost, chief product officer at Pirum, adds: “Connecting [BNP Paribas’] Triparty platform to our collateral management and optimisation services represents a new and exciting chapter in our collaborative story, which was founded on a mutually held core principle of continuously seeking to improve the client experience.
“The move also helps to increase connectivity and liquidity across the French securities-based lending, repo, and OTC derivatives sectors, making this a win for the entire securities finance industry.”
Through this collaboration, mutual clients of both firms gain automated exposure and collateral management processing visibility, efficiency and transparency across their securities lending, repo, and over-the-counter (OTC) derivative transactions.
Frédéric Pascal, head of market and financing services, Securities Services, BNP Paribas, says: “The connection between Pirum and our Triparty Collateral Management platform is a major milestone in the development of our franchise.
“Our goal has always been to help clients deliver on their securities finance strategy while making the move to Triparty as easy as possible. With Pirum as a new partner, we are excited to be able to keep on delivering on that promise to our mutual clients.”
Pirum automates the management of the entire collateral lifecycle — from calculation and matching to submission and validation of collateral requirements and allocations.
Pirum’s Exposure Management service is designed to enable clients to reduce settlement fails and Central Securities Depositories Regulation (CSDR) penalties, as well as collateralisation timeframes while increasing operational efficiencies for all participants.
Rob Frost, chief product officer at Pirum, adds: “Connecting [BNP Paribas’] Triparty platform to our collateral management and optimisation services represents a new and exciting chapter in our collaborative story, which was founded on a mutually held core principle of continuously seeking to improve the client experience.
“The move also helps to increase connectivity and liquidity across the French securities-based lending, repo, and OTC derivatives sectors, making this a win for the entire securities finance industry.”
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