SWIFT scores first cloud collateral management firm
26 January 2016 London
Image: Shutterstock
SWIFT has signed up its first network cloud-based collateral management solution provider to its network.
CloudMargin will use SWIFT's network to provide clients with direct market connectivity as well as consolidating multiple collateral pools, margin messaging and automated collateral delivery.
SWIFT aims to enable direct, automatic, access to financial institutions across the globe in a bid to overhaul the predominately email-based communication systems currently used.
Andy Davies, founder of CloudMargin, said: 鈥淣ever before has this level of automation and end-to-end connectivity been seen in an off-the-shelf application that only requires a single, simple, low-touch integration.鈥�
鈥淚t reinforces CloudMargin鈥檚 position as the most innovative, functionally complete and accessible solution in the market.鈥�
Keith Tippell, head of securities at SWIFT added: 鈥淐loudMargin鈥檚 adoption of SWIFT connectivity and standards is a great example of a vendor business partnership driving further automation and efficiency for our community.鈥�
鈥淭his particular engagement forms part of SWIFT鈥檚 wider global efforts to assist members with STP programmes for collateral management.鈥�
CloudMargin will use SWIFT's network to provide clients with direct market connectivity as well as consolidating multiple collateral pools, margin messaging and automated collateral delivery.
SWIFT aims to enable direct, automatic, access to financial institutions across the globe in a bid to overhaul the predominately email-based communication systems currently used.
Andy Davies, founder of CloudMargin, said: 鈥淣ever before has this level of automation and end-to-end connectivity been seen in an off-the-shelf application that only requires a single, simple, low-touch integration.鈥�
鈥淚t reinforces CloudMargin鈥檚 position as the most innovative, functionally complete and accessible solution in the market.鈥�
Keith Tippell, head of securities at SWIFT added: 鈥淐loudMargin鈥檚 adoption of SWIFT connectivity and standards is a great example of a vendor business partnership driving further automation and efficiency for our community.鈥�
鈥淭his particular engagement forms part of SWIFT鈥檚 wider global efforts to assist members with STP programmes for collateral management.鈥�
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