AcadiaSoft chairman to step down
19 August 2019 New York
Image: Shutterstock
Howard Edelstein is set to step down as chairman of AcadiaSoft later this year.
AcadiaSoft provides risk and collateral management services for the non-cleared derivatives community. It is an industry collaborative comprised of 17 global banks and infrastructures, including CME, LSE, DTCC and Euroclear.
Edelstein has been a member of AcadiaSoft’s board since it was founded in 2009.
Edelstein said: “Back in 2009 when I first got involved, AcadiaSoft was a promising idea being incubated by its founders, Craig Welch and Dan Moyse, whom I had worked with at Thomson and Omgeo developing similar innovations in risk mitigation.”
Since then, regulatory changes have been driving the need for a solution to fully automate the margin and collateral management process since September 2016, when uncleared margin rules went into effect in five phases over four years.
According to AcadiaSoft, all of the firms covered by the first three phases of the rules are using its hub platform to comply, including the first buy-side firm to be subject to the rules.
AcadiaSoft said it plans to immediately begin a search for Edelstein’s replacement.
Commenting on his departure, Edelstein said: “After almost a decade of working to build AcadiaSoft to the industry standard for margin and collateral risk mitigation, as well as leading and securing the company’s latest investment round, it is a good time to announce that I plan to step down.”
Looking ahead to AcadiaSoft’s future trajectory, Edelstein said he believes there are many challenges ahead where combining innovation in fintech and cybertech with support and engagement from the banks and other financial instructions will benefit the entire industry.
Of his future endeavours, Edelstein stated that he plans to focus on his personal investments in other fintech companies including BioCatch where he is CEO and chairman.
AcadiaSoft provides risk and collateral management services for the non-cleared derivatives community. It is an industry collaborative comprised of 17 global banks and infrastructures, including CME, LSE, DTCC and Euroclear.
Edelstein has been a member of AcadiaSoft’s board since it was founded in 2009.
Edelstein said: “Back in 2009 when I first got involved, AcadiaSoft was a promising idea being incubated by its founders, Craig Welch and Dan Moyse, whom I had worked with at Thomson and Omgeo developing similar innovations in risk mitigation.”
Since then, regulatory changes have been driving the need for a solution to fully automate the margin and collateral management process since September 2016, when uncleared margin rules went into effect in five phases over four years.
According to AcadiaSoft, all of the firms covered by the first three phases of the rules are using its hub platform to comply, including the first buy-side firm to be subject to the rules.
AcadiaSoft said it plans to immediately begin a search for Edelstein’s replacement.
Commenting on his departure, Edelstein said: “After almost a decade of working to build AcadiaSoft to the industry standard for margin and collateral risk mitigation, as well as leading and securing the company’s latest investment round, it is a good time to announce that I plan to step down.”
Looking ahead to AcadiaSoft’s future trajectory, Edelstein said he believes there are many challenges ahead where combining innovation in fintech and cybertech with support and engagement from the banks and other financial instructions will benefit the entire industry.
Of his future endeavours, Edelstein stated that he plans to focus on his personal investments in other fintech companies including BioCatch where he is CEO and chairman.
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