Pirum enhances JPM tri-party connectivity to facilitate Dual Matching of RQVs

Pirum is pleased to announce an enhancement to its connectivity with J.P. Morgan tri party, which can now facilitate Dual Matching of RQV’s for market participants. This development builds on Pirum and J.P. Morgan’s long track record of innovation and collaboration.

Pirums’ extended connectivity to J.P. Morgan allows Collateral Providers and Receivers to fully automate their RQV processing, enabling both parties to automatically agree, match and instruct their exposures for efficient collateralisation.  This is an extension to Pirum’s well-established ‘one sided’ RQV solution with J.P. Morgan tri party which is already utilised by 41 market participants.

Todd Crowther, Head of Innovation at Pirum “To support the increasing use of tri party driven by regulatory initiatives such as UMR, we are excited to extend our service offering with J.P. Morgan.  By leveraging our connectivity and automation, this turnkey solution streamlines RQV pre-matching, agreement, instruction and monitoring thus benefitting clients by minimising counterparty risk, enabling efficient STP processing and reducing operational risk via better controls.  At Pirum we see this as a natural evolution of industry best practice, market infrastructure interoperability and further harmonisation of collateral management workflows and business processes in collaboration with J.P. Morgan.”

Matthew Mitchell, J.P Morgan Tri-party product executive “We are pleased to further integrate with Pirum to not only transmit unilateral RQV trade information, but also to answer the pressing need from mutual clients to dynamically deliver matching data on behalf of the Borrower community to us for a multitude of trade scenarios. This added flexibility supplements existing functionality within our global platform which seamlessly meets requirements of clients, reduces the need for manual processes, mitigates unnecessary risk, and ultimately ensures a greater control framework.

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