Pirum and Euroclear link up at triparty
13 April 2016 London
Image: Shutterstock
Euroclear has enhanced its triparty securities lending service with the addition of a connection to Pirum’s collateral management tool.
The new link allows mutual clients to pair Pirum’s solution for calculating, agreeing and submitting daily triparty required values with Euroclear’s triparty agent service, the Collateral Highway.
The partnership will improve straight-through processing, increase integration, enhance reporting and streamline reconciliations, according to Pirum and Euroclear.
Pirum already has links in place with triparty agents J.P. Morgan and BNY Mellon.
Pirum CEO Rajen Sheth commented: “We are excited to be the first post-trade vendor in the securities financing space to be able to offer a fully real-time solution to our clients for three of the key triparty vendors, as well as for their bilateral business.”
“The addition of Euroclear to our existing collateral management platform shows our continued commitment to building innovative solutions that provide tangible benefits and return on investment for our clients.”
Olivier Grimonpont, global head of collateral management and securities lending at Euroclear, added: “This new partnership is a valuable addition to Euroclear’s Collateral Highway, our open platform aimed at allowing clients to seamlessly manage their collateral exposures.”
“Our link with Pirum will enable our clients to efficiently manage their securities lending exposures on the Collateral Highway while fully leveraging their existing post-trade solution.”
The new link allows mutual clients to pair Pirum’s solution for calculating, agreeing and submitting daily triparty required values with Euroclear’s triparty agent service, the Collateral Highway.
The partnership will improve straight-through processing, increase integration, enhance reporting and streamline reconciliations, according to Pirum and Euroclear.
Pirum already has links in place with triparty agents J.P. Morgan and BNY Mellon.
Pirum CEO Rajen Sheth commented: “We are excited to be the first post-trade vendor in the securities financing space to be able to offer a fully real-time solution to our clients for three of the key triparty vendors, as well as for their bilateral business.”
“The addition of Euroclear to our existing collateral management platform shows our continued commitment to building innovative solutions that provide tangible benefits and return on investment for our clients.”
Olivier Grimonpont, global head of collateral management and securities lending at Euroclear, added: “This new partnership is a valuable addition to Euroclear’s Collateral Highway, our open platform aimed at allowing clients to seamlessly manage their collateral exposures.”
“Our link with Pirum will enable our clients to efficiently manage their securities lending exposures on the Collateral Highway while fully leveraging their existing post-trade solution.”
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