Home collateral Clearstream and Pirum offer collateral interoperability

Clearstream and Pirum offer collateral interoperability


Clearstream and securities finance automation provider Pirum have extended their services to offer new collateral connectivity. This allows mutual clients to automate the calculation, matching, submission and validation of collateral requirements and allocations for securities lending, repurchase and OTC derivatives transactions. Extensive connectivity helps customers accept warranties in real time, reduce warranty times and increase efficiency across the value chain, improving settlement rates and reducing failures and from SDR penalties to more efficient optimization of guarantees.

Pirum’s Head of Warranty Services, Todd Crowther, said, “We are excited to extend our connectivity with Clearstream and work together to help joint customers improve exposure management and warranty optimization. Pirum’s goal is to address the industry’s need to extend interoperability and automation across the entire warranty ecosystem and support market players’ desire to streamline and centralize margin management. on all guaranteed products.

Jean-Robert Wilkin, Banking, Funding & Financing at Clearstream, added: “At Clearstream, providing user-friendly and efficient services supported by cutting-edge technology is at the heart of our mission. We are very happy to extend our existing connectivity with Pirum, which perfectly contributes to this objective. By automating warranty management services, we increase interoperability and reduce complexity throughout the process for our joint customers and the market as a whole.

Pirum’s CollateralConnect and ExposureConnect services automate over $1.5 trillion in tri-party collateral across more than 50,000 accounts and covering over 70 global customers every day.

Source: Clearstream