BNY Mellon selects AcadiaSoft鈥檚 collateral solution
07 May 2019 New York
Image: Shutterstock
BNY Mellon has selected AcadiaSoft鈥檚 end-to-end collateral solution to fully outsource its non-cleared margin workflow.
The solution allows clients to access AcadiaSoft's initial margin (IM) risk suite for margin calculation, reconciliation and messaging as part of BNY Mellon's collateral service offering.
This collaboration, in conjunction with BNY Mellon's existing bilateral margin capabilities, enables clients to meet their obligations under Phases 4 and 5 of the non-cleared margin rules, all in one place.
AcadiaSoft acts as a central repository for calculating IM, enabling market participants to use the utility as a single point of contact through which to conduct their messaging and calculations.
Jonathan Spirgel, global head of liquidity and segregation services at BNY Mellon, said: "Our aim is to streamline the collateral workflow for clients, making it easier for them to meet their regulatory requirements.鈥�
He added: 鈥淎dding the AcadiaSoft functionality means they'll only need to share their derivatives portfolio with us once daily, thereafter, we'll calculate their IM and instruct the movement of the collateral required accordingly.鈥�
Chris Walsh, CEO of AcadiaSoft, commented: "We're thrilled to be able to offer buy-side derivatives market participants access to AcadiaSoft's IM calculation and reconciliation services for the very first time through BNY Mellon.鈥�
The solution allows clients to access AcadiaSoft's initial margin (IM) risk suite for margin calculation, reconciliation and messaging as part of BNY Mellon's collateral service offering.
This collaboration, in conjunction with BNY Mellon's existing bilateral margin capabilities, enables clients to meet their obligations under Phases 4 and 5 of the non-cleared margin rules, all in one place.
AcadiaSoft acts as a central repository for calculating IM, enabling market participants to use the utility as a single point of contact through which to conduct their messaging and calculations.
Jonathan Spirgel, global head of liquidity and segregation services at BNY Mellon, said: "Our aim is to streamline the collateral workflow for clients, making it easier for them to meet their regulatory requirements.鈥�
He added: 鈥淎dding the AcadiaSoft functionality means they'll only need to share their derivatives portfolio with us once daily, thereafter, we'll calculate their IM and instruct the movement of the collateral required accordingly.鈥�
Chris Walsh, CEO of AcadiaSoft, commented: "We're thrilled to be able to offer buy-side derivatives market participants access to AcadiaSoft's IM calculation and reconciliation services for the very first time through BNY Mellon.鈥�
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