Pirum’s CollateralConnect service now includes BNY Mellon’s North American collateral schedules. This leverages BNY Mellon’s automated delivery service and integrates the firm’s triparty schedule and collateral acceptability data into Pirum’s collateral management services.
Pirum’s CollateralConnect service provides a real-time, centralized view of margin obligations, digitized eligibility, and global inventory management capabilities to manage collateral across all major venues and products, including securities lending, repo, and derivatives. By using the platform firms can improve the management of both delivered and received assets through its real-time eligibility checking controls that monitor adherence to collateral schedule criteria. In addition, the service examines collateral allocation compliance with regulatory requirements such as UK CASS, EU MiFID, and US Dodd-Frank.
The CollateralConnect service can now be leveraged by North American clients to achieve an enterprise-wide solution which centralizes their collateral management across various collateral venues and underlying products. The extension of the digitized eligibility service to include the additional BNY Mellon triparty schedules within CollateralConnect allows businesses to drive smarter decision-making and support advanced, algo-based collateral optimization. This drives efficient management of collateral sources and uses, optimizes collateral deployment, and supports decision making to raise or transform collateral to better meet margin obligations.
“With the addition of BNY Mellon’s North American triparty collateral schedules, our clients in the region can now benefit from those digitized eligibility schedules as part of their efforts to achieve efficient collateral management by providing an automated centralized schedule repository across all their margin activities“, said Bob Zekraus, COO and head of Americas at Pirum, in a statement.