Securities Finance Automation leaders Pirum, have recently globalized their tri-party connectivity service.
Building on its existing real time connectivity to the 4 international tri-party agents, it is now able to assist clients in calculating and instructing tri-party collateral requirements (RQV) for US domestic tri-party.
The RQV service has accelerated dramatically over the last 2 years, with Pirum currently calculating more than $1.4 trillion of collateral requirements daily.
In addition to tri-party automation, Pirum’s ExposureConnect and CollateralConnect products offer institutions an enterprise wide collateral management solution, which enable clients to manage collateral in a global and centralized manner.
Pirum CEO Rajen Sheth said: “This is an exciting development for our North American product offering and an important addition to Pirum’s exposure and collateral management services. Adding US domestic tri-party connectivity was a high priority for our clients as the market evolves to support broader forms of collateral and I am pleased Pirum can support these developments.”