Markit and CloudMargin partner up
02 March 2016 London
Image: Shutterstock
Markit’s Portfolio Valuations services will be made available through CloudMargin's cloud-based collateral management system, the companies have confirmed.
CloudMargin and Markit pointed to the introduction of initial and variation margin requirements, set for September 2016, as a reason for the service integration, which will help to overcome resulting inconsistencies in valuations and ensure connectivity and workflow across valuation and collateral management systems.
Nosheen Amir-Ebrahimi, managing director of Markit’s Portfolio Valuations, said: “The integration of our valuations service into CloudMargin’s platform provides a seamless valuations and collateral management solution, bringing operational efficiency, transparency and accuracy to our customers.”
Steven Husk, executive chairman of the CloudMargin board, added: “In a rapidly changing regulatory landscape, the combination of CloudMargin’s solution and Markit’s portfolio services, places us in a unique position to support our clients’ end-to-end collateral management requirements and deliver real competitive advantage across all cleared and uncleared transactions.”
Illuminate Financial Management, a financial technology venture capital firm, became a CloudMargin investor in February 2015, paving the way for the partnership with Markit, which became a strategic investor in the Illuminate Fintech Opportunities Fund later in the year.
“The partnership between Markit and CloudMargin is a valuable collaboration between two important solutions in the valuation and collateral management spaces,” said Mark Beeston, founder and managing partner of Illuminate Financial Management.
“It also demonstrates the strength of the Illuminate model in connecting portfolio companies like CloudMargin to industry leaders like Markit to benefit the industry.”
CloudMargin and Markit pointed to the introduction of initial and variation margin requirements, set for September 2016, as a reason for the service integration, which will help to overcome resulting inconsistencies in valuations and ensure connectivity and workflow across valuation and collateral management systems.
Nosheen Amir-Ebrahimi, managing director of Markit’s Portfolio Valuations, said: “The integration of our valuations service into CloudMargin’s platform provides a seamless valuations and collateral management solution, bringing operational efficiency, transparency and accuracy to our customers.”
Steven Husk, executive chairman of the CloudMargin board, added: “In a rapidly changing regulatory landscape, the combination of CloudMargin’s solution and Markit’s portfolio services, places us in a unique position to support our clients’ end-to-end collateral management requirements and deliver real competitive advantage across all cleared and uncleared transactions.”
Illuminate Financial Management, a financial technology venture capital firm, became a CloudMargin investor in February 2015, paving the way for the partnership with Markit, which became a strategic investor in the Illuminate Fintech Opportunities Fund later in the year.
“The partnership between Markit and CloudMargin is a valuable collaboration between two important solutions in the valuation and collateral management spaces,” said Mark Beeston, founder and managing partner of Illuminate Financial Management.
“It also demonstrates the strength of the Illuminate model in connecting portfolio companies like CloudMargin to industry leaders like Markit to benefit the industry.”
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