Euroclear Bank is pleased to announce an enhancement to its Triparty Securities Lending service, adding a new connection to Pirum System’s established collateral management tool.
This partnership will benefit firms using Euroclear’s services, whereby they outsource their collateral management to Euroclear. The new link allows mutual clients of Pirum and Euroclear to fully benefit from the Pirum service suite, while using the Euroclear Collateral Highway, improving straight through processing, increasing integration, enhancing reporting capability and streamlining reconciliations.
Pirum CEO Rajen Sheth said: “We are excited to be the first post-trade vendor in the securities financing space to be able to offer a fully real-time solution to our clients for three of the key Triparty vendors, as well as for their bilateral business. The addition of Euroclear to our existing collateral management platform shows our continued commitment to building innovative solutions that provide tangible benefits and return on investment for our clients.”
Olivier Grimonpont, Global Head of Collateral Management and Securities Lending, Euroclear added: “This new partnership is a valuable addition to Euroclear’s Collateral Highway, our open platform aimed at allowing clients to seamlessly manage their collateral exposures. Our link with Pirum will enable our clients to efficiently manage their Securities Lending exposures on the Collateral Highway while fully leveraging their existing post-trade solution.”