Collateral management service taken up by four major banks
29 March 2012 Boston
Image: Shutterstock
AcadiaSoft announced that four additional investment banks - BofA Merrill Lynch, Barclays, Credit Suisse and Morgan Stanley - are in production on MarginSphere, AcadiaSoft’s online community for margin automation in the OTC derivatives market.
The new participants joined previously announced dealers Deutsche Bank, Goldman Sachs, HSBC and J.P. Morgan.
MarginSphere is a central messaging service that provides electronic exchange of margin calls, substitutions and interest statements between counterparties engaged in collateral management, with the aim to reduce inefficiencies and manage risk in an automated fashion.
“These additions ensure that buy-side participants that join the community can now have the majority of their margin calls automated,” said Craig Welch, co-founder and CEO of AcadiaSoft.
“With greater attention on collateral management due to heightened regulatory oversight, it is now essential for firms to create efficiencies and increase transparency through automation of their margin call and collateral management operations. By bringing such a large percentage of the OTC market on to MarginSphere, AcadiaSoft is offering a means to improve how clients manage these processes.”
The new participants joined previously announced dealers Deutsche Bank, Goldman Sachs, HSBC and J.P. Morgan.
MarginSphere is a central messaging service that provides electronic exchange of margin calls, substitutions and interest statements between counterparties engaged in collateral management, with the aim to reduce inefficiencies and manage risk in an automated fashion.
“These additions ensure that buy-side participants that join the community can now have the majority of their margin calls automated,” said Craig Welch, co-founder and CEO of AcadiaSoft.
“With greater attention on collateral management due to heightened regulatory oversight, it is now essential for firms to create efficiencies and increase transparency through automation of their margin call and collateral management operations. By bringing such a large percentage of the OTC market on to MarginSphere, AcadiaSoft is offering a means to improve how clients manage these processes.”
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