Pirum reaches RQV automation milestone
18 December 2014 London
Image: Shutterstock
Pirum Systems Tri-party RQV Automation service, live with both JP Morgan and BNY Mellon, has reached a significant milestone with processed RQVs (required values) reaching over $130 billion daily.
鈥淲ith such a focus on exposure management today organisations are looking for any and every efficiency in this space. Pirum鈥檚 real-time Tri-party RQV Automation service continues to deliver significant benefits to our clients and is being embraced by the industry resulting in us reaching this milestone,鈥� said Raj Sheth, managing director at Pirum Systems.
鈥淭he calculation, agreement and submission of RQV figures bring their own complexities which this service addresses. We are excited to see that the market agrees.鈥�
Paul Lynch, COO at eSecLending, commented: 鈥淧irum鈥檚 RQV service gives us timely visibility to the tri-party collateralisation process and delivers levels of automation and efficiencies that have surpassed our expectations. 鈥�
鈥淭he service has also provided a standardised process for all of our counterparties and tri-party agents further streamlining our collateral management function.鈥�
According to Pirum, additional releases are planned for 2015 which will further extend automation of RQV processing including direct interfaces with additional tri-party agents.
鈥淲ith such a focus on exposure management today organisations are looking for any and every efficiency in this space. Pirum鈥檚 real-time Tri-party RQV Automation service continues to deliver significant benefits to our clients and is being embraced by the industry resulting in us reaching this milestone,鈥� said Raj Sheth, managing director at Pirum Systems.
鈥淭he calculation, agreement and submission of RQV figures bring their own complexities which this service addresses. We are excited to see that the market agrees.鈥�
Paul Lynch, COO at eSecLending, commented: 鈥淧irum鈥檚 RQV service gives us timely visibility to the tri-party collateralisation process and delivers levels of automation and efficiencies that have surpassed our expectations. 鈥�
鈥淭he service has also provided a standardised process for all of our counterparties and tri-party agents further streamlining our collateral management function.鈥�
According to Pirum, additional releases are planned for 2015 which will further extend automation of RQV processing including direct interfaces with additional tri-party agents.
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