CloudMargin has added Unavista to its solution to offer EMIR compliant swap data repository reporting of OTC derivatives to their clients, avoiding the need for any further middleware or 3rd party solutions.
London 11 February 2014
Derivatives collateral management cloud technology provider CloudMargin today announced it has connected with Unavista (part of the London Stock Exchange Group) to offer EMIR compliant trade reporting.
CloudMargin can collate, normalise, enhance and enrich data from a variety of sources in a huge variety of formats and submit correctly formatted data to Unavista in a timely fashion at minimal cost for clients.
“Clients increasingly reject the notion of using multiple 3rd party solutions and middleware providers to cope with ever changing regulation and cover up gaps in existing systems,” comments Stuart McHardy, Managing Director of Product Development and COO of CloudMargin. “They demand state of the art collateral management systems delivering STP connectivity out of the box to multiple areas such as reconciliation providers, clearing brokers, messaging platforms, custodians and trade repositories with minimal involvement and investment on their part. I’m delighted that CloudMargin delivers this.”
“Unavista has been the overwhelming choice of our clients to date” adds Andy Davies, Cloudmargin’s CEO and co-founder, “the ease of use and reliability of Unavista’s solution makes it the obvious choice to meet the EMIR requirements which is reflected in the demand we are seeing.”
CloudMargin will be adding other EMIR compliant trade repositories in line with client demand during the coming months.
CloudMargin is a new collateral management technology provider meeting the growing needs of derivatives end-users for an affordable, scalable and future-proof alternative to spreadsheets and manual processes.
Focussing on derivatives end-users such as corporate treasurers, insurers, pension funds and asset managers allows CloudMargin to avoid the unnecessary and expensive complications of sell-side focussed solutions and instead deliver a cost-effective and understandable web platform.
Low-cost “pay as you go” menu-based pricing means the end to lengthy technology contracts with punitive exit clauses and costly upgrade cycles. The simple yet powerful web interface gives total visibility of proprietary and counterparty or CCP positions and state of the art reporting puts clients firmly in control of their businesses.