Cassini Systems and AcadiaSoft to offer joint IM services
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Cassini Systems and AcadiaSoft to offer joint IM services 15 April 2020New York Reporter: Natalie Turner
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Cassini Systems, a financial provider for pre- and post-trade margin analytics provider, has joined forces with AcadiaSoft, a risk and collateral management services provider, to integrate their initial margin (IM) tools.
Through the partnership, Cassini has automated access to AcadiaSoft鈥檚 reconciliation platform, Initial Margin Exposure Manager (IMEM), aimed at creating a one-stop-shop for mutual clients鈥� IM requirements across cleared and bilateral over-the-counter (OTC) and exchange-traded derivatives transactions.
The partnership enables Cassini clients to use the firm鈥檚 pre-trade analytics to make key decisions on how best to execute a transaction, as well as forecast and optimise their portfolios, Cassini says.
Then, on a fully automated basis, the clients can send Cassini-generated Common Risk Interchange Format end-of-day files to IMEM for reconciliation on the AcadiaPlus platform.
Cassini Systems CEO and founder, Liam Huxley, says: 鈥淚n these times of extreme market volatility and enormous margin swings, it鈥檚 particularly vital for market participants to not only ensure they meet the challenges of Uncleared Margin Rules (UMR) but also understand and manage the true cost of every transaction, from the pre-trade stage all the way to post-trade operations.
鈥淏y providing an integrated Cassini-to-AcadiaSoft workflow, our mutual clients can benefit from front-to-back margin optimisation and operational automation.鈥�
This time last year, Cassini Systems also partnered for a joint IM offering.
According to SmartStream, the partnership integrated Cassini鈥檚 analytics platform to provide complete Standard Initial Margin Model (SIMM) calculations on OTC derivatives for clients in scope for phase four and five.
The final two phases of UMR were recently pushed back so that they will now be implemented in September 2021 and September 2022, respectively.
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