Pirum adds bilateral trading module to CollateralConnect platform
15 April 2021 UK
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Pirum Systems has built out its global CollateralConnect service to give clients the ability to manage all their bilateral secured financing activity, in addition to their triparty trades in a single platform.
CollateralConnect aims to address the challenge firms face in moving away from a siloed approach to collateral management towards a consolidated, holistic solution — an industry-wide trend driven by new regulatory requirements such as the Uncleared Margin Rules and the Central Securities Depositories Regulation.
The new bilateral trading functionality is offered as a stand-alone module under the established platform, enabling clients to manage securities lending, repo and derivatives margin relationships across multiple collateral venues globally, Pirum says.
Since launching in 2017, CollateralConnect now sees collateral volume valued at more than $1.5 trillion pass through the platform each day.
The product development is the latest step in Pirum’s FutureTech Initiative which launched in January by CEO Phil Morgan, who took over from Rajen Sheth last year.
Todd Crowther, head of innovation and collateral services at Pirum, says: “Pirum’s extensive connectivity to various collateral venues, coverage of all collateralised products and our turn-key integration with a client’s books-and-records enables firms to connect quickly and easily to the broader collateral network and both accelerate the delivery of benefits while simultaneously lowering the execution risk of implementing such a far-reaching solution.
“For many clients, the appeal of CollateralConnect is not only what it delivers by way of functionality and associated benefits but additionally, where data and connectivity are consolidated, it also provides the basis for enhanced collateral optimisation, increasingly a key focus for both Pirum and the market at large.”
CollateralConnect aims to address the challenge firms face in moving away from a siloed approach to collateral management towards a consolidated, holistic solution — an industry-wide trend driven by new regulatory requirements such as the Uncleared Margin Rules and the Central Securities Depositories Regulation.
The new bilateral trading functionality is offered as a stand-alone module under the established platform, enabling clients to manage securities lending, repo and derivatives margin relationships across multiple collateral venues globally, Pirum says.
Since launching in 2017, CollateralConnect now sees collateral volume valued at more than $1.5 trillion pass through the platform each day.
The product development is the latest step in Pirum’s FutureTech Initiative which launched in January by CEO Phil Morgan, who took over from Rajen Sheth last year.
Todd Crowther, head of innovation and collateral services at Pirum, says: “Pirum’s extensive connectivity to various collateral venues, coverage of all collateralised products and our turn-key integration with a client’s books-and-records enables firms to connect quickly and easily to the broader collateral network and both accelerate the delivery of benefits while simultaneously lowering the execution risk of implementing such a far-reaching solution.
“For many clients, the appeal of CollateralConnect is not only what it delivers by way of functionality and associated benefits but additionally, where data and connectivity are consolidated, it also provides the basis for enhanced collateral optimisation, increasingly a key focus for both Pirum and the market at large.”
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