As part of its FutureTech Initiative Pirum announces an extension to their CollateralConnect Service to include Bilateral transactions, enabling clients to expand their collateral management oversight.
With this product expansion, CollateralConnect now gives clients the ability to manage all their triparty and Bilateral secured financing trades in a single platform.
CollateralConnect addresses the challenge firms face in moving away from a siloed approach to collateral management to a consolidated, enterprisewide solution. With the addition of bilateral activity, CollateralConnect clients can now manage all their Securities Lending, Repo and Derivatives margin relationships across multiple collateral venues globally.
By leveraging Pirum’s extensive connectivity and comprehensive data set, both collateral receivers and collateral providers are leveraging this service to improve their profitability, reduce risk and achieve regulatory compliance. Pirum is helping clients to manage in excess of $1.5Trillion daily through its CollateralConnect platform.
Todd Crowther, Head of Innovation & Collateral Services at Pirum, said ‘Pirum’s extensive connectivity to various collateral venues, coverage of all collateralised products and our turn-key integration with a client’s books and records enables firms to connect quickly and easily to the broader collateral network and, both accelerate the delivery of benefits whilst, simultaneously lowering the execution risk of implementing such a far-reaching solution. For many clients, the appeal of CollateralConnect is not only what it delivers by way of functionality and associated benefits but additionally, where data and connectivity are consolidated, it also provides the basis for enhanced collateral optimisation, increasingly a key focus for both Pirum and the market at large.’