OpenGamma announced that global principal trading firm DRW will use OpenGamma’s analytics in its treasury function to manage derivatives margin ahead of Uncleared Margin Rules (UMR).
UMR require any trading strategy that uses leverage to optimize and be efficient with its use of collateral. OpenGamma’s solution will enable DRW to improve treasury processes by regularly evaluating alternative ways to put on new trades across both clearinghouses and bilateral counterparties.
“We’ve been looking at technology solutions that can help us to adapt the processes we use for financing and cash management,” says Mark Wendland, Global Head of Treasury at DRW. “OpenGamma’s solution gives us unique coverage for the products we trade, and it will add efficiency to our trading operations.”