CloudMargin announced that the Cardano Group, the pensions risk and investment management specialist, has gone live on its platform. With operations in the UK and the Netherlands, Cardano turned to CloudMargin as the underlying platform for its collateral management capabilities, providing a more automated, secure and connected solution for pension fund clients’ bilateral and cleared over-the-counter (OTC) activity.
Previously, Cardano offered its own in-house collateral management solution. The migration to CloudMargin’s cloud-based offering enables Cardano to focus on providing enhanced services to its clients, while reducing operational risk across the business. With the integration of CloudMargin, Cardano will leverage various complementary service providers across the collateral lifecycle, including AcadiaSoft, GlobalCollateral’s Margin Transit Utility (MTU) and SWIFT. The company will also be adding its cleared OTC activity to the platform in the near future.
Stuart Connolly, CloudMargin CEO, said in a statement: “As pension funds are grappling with increased volume of OTC transactions, and increased complexity of securities used as collateral, we are able to add value to these processes by providing the applicable tooling to them.”
Bostelaar added: “The introduction of CloudMargin and complementary service providers is a next step to further straight-through processing and industrialization of the entire collateral management value chain.”