Euroclear adds Pirum's sec lending to triparty
16 November 2016 London
Image: Shutterstock
Euroclear has opened up its triparty platform to Pirum鈥檚 securities lending toolkit.
The combined offering will reduce operational burdens of mutual clients via Euroclear鈥檚 Collateral Highway by improving automation of collateral exposure, including daily adjustments, through Pirum's required collateral value (RQV) service.
Previously, the two firms agreed to enhance Euroclear鈥檚 triparty securities lending service with Pirum鈥檚 collateral management tool in April.
This allowed clients to pair Pirum鈥檚 solution for calculating, agreeing and submitting daily triparty required values with Euroclear鈥檚 Collateral Highway.
Rajen Sheth, CEO at Pirum, said: "The recent product launch with Euroclear now enables Pirum clients to connect with the three major triparty agents in a real-time and automated manner.鈥�
鈥淭he addition of this Euroclear RQV functionality to the existing collateral management platform shows our continued commitment to building innovative solutions that provide cost reduction and improved operational risk for our clients."
Olivier Grimonpont, global head of collateral management and securities lending at Euroclear, added: 鈥淎s securities lending becomes increasingly granular and time sensitive, we are continuously seeking ways to improve our client鈥檚 collateral management experience. This roll out of new functionality is a continuous process for our clients to drive operational efficiencies."
The combined offering will reduce operational burdens of mutual clients via Euroclear鈥檚 Collateral Highway by improving automation of collateral exposure, including daily adjustments, through Pirum's required collateral value (RQV) service.
Previously, the two firms agreed to enhance Euroclear鈥檚 triparty securities lending service with Pirum鈥檚 collateral management tool in April.
This allowed clients to pair Pirum鈥檚 solution for calculating, agreeing and submitting daily triparty required values with Euroclear鈥檚 Collateral Highway.
Rajen Sheth, CEO at Pirum, said: "The recent product launch with Euroclear now enables Pirum clients to connect with the three major triparty agents in a real-time and automated manner.鈥�
鈥淭he addition of this Euroclear RQV functionality to the existing collateral management platform shows our continued commitment to building innovative solutions that provide cost reduction and improved operational risk for our clients."
Olivier Grimonpont, global head of collateral management and securities lending at Euroclear, added: 鈥淎s securities lending becomes increasingly granular and time sensitive, we are continuously seeking ways to improve our client鈥檚 collateral management experience. This roll out of new functionality is a continuous process for our clients to drive operational efficiencies."
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