The CollateralConnect Service offered by Pirum delivers a real-time, automated and comprehensive collateral solution for clients to efficiently manage and optimise collateral, funding and liquidity. It addresses the need for an enterprise-wide solution supporting optimisation of all collateralized products across multiple collateral venues and locations. The service provides accurate, real-time and comprehensive data to deliver a solution that supports highly complex, multi-objective optimisation outcomes including mitigating risk and maximising financial resource efficiencies.
CollateralConnect has extended its existing connectivity with J.P. Morgan to allow mutual clients to direct triparty collateral allocations based on their own or a third-party optimisation algorithm and sources and uses of inventory data held by Pirum. This provides firms with intelligent, straight thru processing to streamline intra-day margining, automate directed collateral coverage and drive efficient collateral usage and mobilisation.
Graham Gooden, EMEA Head of Collateral Services at J.P. Morgan said: “We offer clients an integrated way to connect to our services, share data, automate processing and drive better results, and CollateralConnect helps mutual clients do that more efficiently. As collateral optimisation continues to rise in importance, it’s our role to help clients direct allocations across their trading counterparties as granularly and effectively as possible.”
Todd Crowther, Head of Corporate Development and Collateral Services at Pirum said: “J.P. Morgan has collaborated closely throughout the development of the CollateralConnect Service. We are proud to be enabling mutual clients help in leveraging the J.P. Morgan triparty platform to achieve better operational and financial efficiencies with relatively minimal time and effort on their part. Our aim at Pirum is always to remain flexible to support the variety of approaches and the unique challenges of each client.”