Itaú BBA has selected 4sight’s Securities Finance and Collateral Management solution to support its US-based securities lending and repo business, Itaú BBA USA Securities.
Itaú BBA will use 4sight’s software for equity and fixed income Securities Lending and Repo trade booking and position management. Itaú BBA will also use 4sight’s solution for collateral management, credit limits control, P&L and reporting.
Itaú BBA will initially use 4sight for US domestic equity and fixed income trading, and later phases will extend this into a multi-site global front-to-back securities lending and repo solution.
4sight will deliver the implementation as a hosted solution via Itaú BBA’s internal hosting provider, and the project includes several new features built to Itaú BBA specification, notably:
- A new securities lending and repo trade concentration limit module, including extended concentration limit/breach reporting
- A new real-time 4sight interface for automated requests and import of instrument static data
- A new user interface for 4sight’s existing Loanet interface, and extensions to the interface to support additional repo transaction types.
Ross Levin, Head of Prime Services Business Architecture at Itaú BBA, comments: “It was critical for this project to select a technology solution that can be installed rapidly on a lightweight footprint while also able to scale globally. Itaú BBA also required a vendor with strong industry and domain expertise, global support services and a flexible approach to customization. We look forward to working with 4sight to implement this project as we expand Itaú BBA’s US securities lending and repo business.”
Antonio Neri, 4sight’s Executive Director said: “We are very happy to welcome Itaú BBA to our growing North American client base. The 4sight system will provide Itaú BBA with a cost effective solution to scale up its global Securities Finance business, while managing collateral effectively and increasing trading volumes through greater automation.”