The Pirum CCP Gateway service has been enhanced to offer a ground breaking solution for the instruction, agreement and management of Voluntary Corporate Actions for centrally cleared securities lending trades. The new functionality allows the bilateral lender and borrower to communicate instructions for voluntary corporate actions onto the CCP for processing. Here are just some of the benefits of the Pirum solution:
• A single dashboard for lenders and borrowers to see an overview of all active elections and outturns by counterparty.
• The ability for lenders to manage elections at fund level, whilst keeping the relevant “bulked” view for the borrower.
• Automated notifications for updates to elections or queries from the borrower to lender, and alerts when deadlines are approaching.
• Full visibility and updates to the CCP positions and trade details in real-time.
• Reconciliation of stock outturns and notifications of cash payments on the back of elections through the CCP.
This enhancement to the system represents our continued commitment to supporting the growth of central clearing within the securities lending market.
Integration for the CCP Gateway service is easy if you are already using Pirum real time services, and if you are not then you get all other real time services as part of one single integration. Please contact us at sales@pirum.com to learn more, or to see a demo.
