Pirum extends integration with Euroclear
13 November 2024 UK
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Pirum has extended its CollateralConnect service integration with Euroclear’s triparty collateral management platform, to support mutual clients’ collateral optimisation needs.
This decision allows mutual clients to direct collateral allocations to Euroclear’s triparty collateral management environment.
To determine their optimal collateral allocation, mutual clients can use either their own, or a third-party optimisation algorithm and their ‘sources and uses’ portfolio data held by Pirum, the firm says.
This is designed to provide firms with intelligent, straight-through processing (STP) functionality to streamline intraday margining, automate directed collateral coverage, and drive efficient collateral usage and mobilisation.
Pirum’s CollateralConnect service aims to deliver a real-time and automated solution for efficient management and optimisation of collateral, funding and liquidity.
Commenting on the news, Marije Verhelst, head of product strategy and development, collateral management and securities lending, at Euroclear, said: “We fully support initiatives that make collateral flows more efficient and optimal for our clients and the industry.
“Extending our connectivity and enhancing our collaboration with Pirum provides a great opportunity for us to deliver even more value to our mutual clients.”
Todd Crowther, head of corporate development and collateral services at Pirum, adds: “Connecting Euroclear’s triparty platform to our CollateralConnect service addresses industry participants’ need to drive better business performance through seamless connectivity, interoperability and intelligent, data-driven automation.”
This decision allows mutual clients to direct collateral allocations to Euroclear’s triparty collateral management environment.
To determine their optimal collateral allocation, mutual clients can use either their own, or a third-party optimisation algorithm and their ‘sources and uses’ portfolio data held by Pirum, the firm says.
This is designed to provide firms with intelligent, straight-through processing (STP) functionality to streamline intraday margining, automate directed collateral coverage, and drive efficient collateral usage and mobilisation.
Pirum’s CollateralConnect service aims to deliver a real-time and automated solution for efficient management and optimisation of collateral, funding and liquidity.
Commenting on the news, Marije Verhelst, head of product strategy and development, collateral management and securities lending, at Euroclear, said: “We fully support initiatives that make collateral flows more efficient and optimal for our clients and the industry.
“Extending our connectivity and enhancing our collaboration with Pirum provides a great opportunity for us to deliver even more value to our mutual clients.”
Todd Crowther, head of corporate development and collateral services at Pirum, adds: “Connecting Euroclear’s triparty platform to our CollateralConnect service addresses industry participants’ need to drive better business performance through seamless connectivity, interoperability and intelligent, data-driven automation.”
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