CloudMargin adds Nasdaq Clearing to collateral platform
13 March 2017 London
Image: Shutterstock
CloudMargin has secured Nasdaq Clearing as a user of its web-based collateral and margin management solution.
According to CloudMargin, the relationship 鈥渨ill significantly enhance and streamline Nasdaq Clearing鈥檚 collateral-related communications, including issuance of the most up-to-date eligibility schedules, reports, messages and instructions鈥�.
Lee McCormack, head of strategy at CloudMargin, said: 鈥淲e believe this type of interoperability will set a standard for the industry going forward. CloudMargin鈥檚 unique ability to offer a consolidated view and management of collateral needs is increasingly important as the volumes of margin movements rocket for both cleared and uncleared trades.鈥�
鈥淣asdaq is doing a great service to its market users by facilitating this capability, with benefits for sell-side and buy-side institutions and clearing firms alike.鈥�
Fredrik Ekstr枚m, Nasdaq鈥檚 head of Nordic fixed income and European clearing, said: 鈥淚nnovative and capital-efficient solutions are at the heart of what we do at Nasdaq Clearing. CloudMargin鈥檚 effective and seamless web-based solution enables our clients to manage margin collateral across clearinghouses and bilateral counterparts.鈥�
鈥淣asdaq Clearing believes that distribution of risk is a key factor in protecting the financial sector from systemic risks. The CloudMargin offering supports such infrastructure in an efficient way.鈥�
According to CloudMargin, the relationship 鈥渨ill significantly enhance and streamline Nasdaq Clearing鈥檚 collateral-related communications, including issuance of the most up-to-date eligibility schedules, reports, messages and instructions鈥�.
Lee McCormack, head of strategy at CloudMargin, said: 鈥淲e believe this type of interoperability will set a standard for the industry going forward. CloudMargin鈥檚 unique ability to offer a consolidated view and management of collateral needs is increasingly important as the volumes of margin movements rocket for both cleared and uncleared trades.鈥�
鈥淣asdaq is doing a great service to its market users by facilitating this capability, with benefits for sell-side and buy-side institutions and clearing firms alike.鈥�
Fredrik Ekstr枚m, Nasdaq鈥檚 head of Nordic fixed income and European clearing, said: 鈥淚nnovative and capital-efficient solutions are at the heart of what we do at Nasdaq Clearing. CloudMargin鈥檚 effective and seamless web-based solution enables our clients to manage margin collateral across clearinghouses and bilateral counterparts.鈥�
鈥淣asdaq Clearing believes that distribution of risk is a key factor in protecting the financial sector from systemic risks. The CloudMargin offering supports such infrastructure in an efficient way.鈥�
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