Pirum Systems Tri-party RQV Automation service, live with both JP Morgan and BNY Mellon, has reached a significant milestone with processed RQV’s (required value) reaching over 130bn USD daily.
“With such a focus on exposure management today organisations are looking for any and every efficiency in this space. Pirum’s real-time Tri-party RQV Automation service continues to deliver significant benefits to our clients and is being embraced by the industry resulting in us reaching this milestone. In the past, tri-party users faced numerous challenges, such as lack of timely visibility and root cause analysis of disputed trade valuations, as well as maintaining multiple processes for different agents. The calculation, agreement and submission of RQV figures bring their own complexities which this service addresses. We are excited to see that the market agrees.” says Raj Sheth, Managing Director at Pirum Systems.
“Pirum’s RQV service gives us timely visibility to the tri-party collateralisation process and delivers levels of automation and efficiencies that have surpassed our expectations. The service has also provided a standardised process for all of our counterparties and tri-party agents further streamlining our collateral management function.” says Paul Lynch, Chief Operating Officer at eSecLending.
Additional releases are planned for next year which will further extend automation of RQV processing including direct interfaces with additional tri-party agents.
For further details or a demonstration of this service please contact us at sales@pirum.com or +44 20 7220 0960