State Street integrates Pirum鈥檚 CollateralConnect onto its collateral platform
24 March 2022 US
Image: AdobeStock/ JHVEPhoto
State Street Collateral+, the US bank鈥檚 collateral management platform, has gone live with Pirum CollateralConnect to support common clients with their collateral management and optimisation requirements.
The Boston-based financial services corporation indicates that this collaboration between the two companies capitalises on investments that it has made in its Collateral+ solution, including the recent expansion of this platform to embrace State Street鈥檚 tri-party service.
Among other benefits, these developments enable buy-side firms to optimise collateral mobilisation and allocation when meeting their initial and variation margin requirements.
Pirum鈥檚 CollateralConnect service takes advantage of its widespread connectivity with State Street鈥檚 collateral management solutions to deliver what it calls intelligent, STP-based processing. The aim is to deliver greater efficiency to intraday margining and to enhance collateral use and mobilisation.
This, the two companies note, will deliver improved connectivity, workflow and automation to State Street鈥檚 tri-party collateral service.
Reflecting on the collaboration, State Street鈥檚 global head of collateral management Staffan Ahlner says: 鈥淎s markets continue to evolve, firms will have more and more complex collateral management needs. We are delighted to announce this collaboration with Pirum, which will further elevate our collateral posting capabilities on behalf of our clients while enhancing our operational efficiency.鈥�
Pirum CEO Phil Morgan says: 鈥淲e are proud to help our clients leverage the State Street Collateral+ and tri-party platform to achieve better operational and financial efficiencies with relatively minimal time and effort on their part.
鈥淥ur CollateralConnect solution offers firms an easier way to connect to State Street to share data, automate processing and drive better client outcomes.鈥�
Pirum indicates that it currently assists firms in managing more than US$3 trillion in trades and collateral daily across securities lending, repo and derivatives through its end-to-end collateral, margining and transaction services.
The Boston-based financial services corporation indicates that this collaboration between the two companies capitalises on investments that it has made in its Collateral+ solution, including the recent expansion of this platform to embrace State Street鈥檚 tri-party service.
Among other benefits, these developments enable buy-side firms to optimise collateral mobilisation and allocation when meeting their initial and variation margin requirements.
Pirum鈥檚 CollateralConnect service takes advantage of its widespread connectivity with State Street鈥檚 collateral management solutions to deliver what it calls intelligent, STP-based processing. The aim is to deliver greater efficiency to intraday margining and to enhance collateral use and mobilisation.
This, the two companies note, will deliver improved connectivity, workflow and automation to State Street鈥檚 tri-party collateral service.
Reflecting on the collaboration, State Street鈥檚 global head of collateral management Staffan Ahlner says: 鈥淎s markets continue to evolve, firms will have more and more complex collateral management needs. We are delighted to announce this collaboration with Pirum, which will further elevate our collateral posting capabilities on behalf of our clients while enhancing our operational efficiency.鈥�
Pirum CEO Phil Morgan says: 鈥淲e are proud to help our clients leverage the State Street Collateral+ and tri-party platform to achieve better operational and financial efficiencies with relatively minimal time and effort on their part.
鈥淥ur CollateralConnect solution offers firms an easier way to connect to State Street to share data, automate processing and drive better client outcomes.鈥�
Pirum indicates that it currently assists firms in managing more than US$3 trillion in trades and collateral daily across securities lending, repo and derivatives through its end-to-end collateral, margining and transaction services.
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