VERMEG, the leading banking and insurance software solutions provider, has today launched Colline.Cloud, a highly cost-efficient end-to-end collateral management service, aimed at smaller buy and sell-side firms.
The launch comes as the global regulations for uncleared derivatives (UMR) moves to phases five and six.
However, due to COVID-19, there is a twelve-month extension to the implementation deadline. Specifically, all entities with an AANA (Average Aggregated Notional Amount) above EUR 8 billion, have until September 2021 to comply. The delay means the likes of smaller asset managers and investment banks will have extra time to prepare and have the opportunity to find a strategic solution that not only meets the regulatory requirements but enables them to review ‘Total Cost of Collateral’ and improve collateral management efficiency.
Colline.Cloud is a modular cloud-based collateral management platform that is highly automated and adaptable, and can be implemented rapidly and seamlessly to meet this need. The agile and scalable software, with flexible sizing and configuration, has been developed from the award winning and market leading service, COLLINE, and has additional capabilities including Standard Initial Margin Model (SIMM) calculations and a new user interface.
VERMEG’s award winning collateral management software is used by over 90 financial institutions, underlying the company’s leading position in the market.
Helen Nicol, Global Product Director, Collateral Solutions, VERMEG said: “The delay to phase five and six of the UMR provides a vital window for small to medium sized firms to think strategically about how they will meet the regulation. With a more efficient collateral management solution like Colline.Cloud, they will not only tick the regulatory box, but it could also improve business performance by providing a sustainable and flexible cost structure and removing the need for burdensome IT infrastructure.
“Colline.Cloud is developed from our deep collateral management expertise and we’re constantly innovating to provide clients, both big and small, with solutions that are quick to implement, easy to use and are more time and cost-efficient.”