Marks and Exposure

Covering both cash and non-cash / cash pool collateralised trades, Pirum's comprehensive Marks and Exposure services for the securities lending and repo markets brings many innovations to the market providing a unique and unparalleled service:

• Reconciliation of real-time positions
• Identification and STP autoposting of marks for cash loans
• Calculation of exposure for non-cash/pool cash loans
• STP of reprices / fee marks for non-cash/pool cash loans
• Automated feedback of posted marks / reprices
• User friendly interface identifies and classifies any differences
• Simple on-line adjustment of prices and FX rates
• Output file of agreed marks generated for automated upload into both parties' systems, avoiding manual keying of marks

Service benefits:

• Reconcile and agree both exposure & marks quickly and effectively
• Analyse and review the specific causes of differences - including FX rates, price and date of price & margin
• Enter adjustments and recalculate both exposure & marks
• Achieve STP (Straight Through Processing) for cash and fee marks
• Operate efficiently, with intervention required for exceptions only
• A single, independently produced reconciliation, visible to both parties

User Interface features:

• Secure access with individual user certificate authentication
• Reporting into Excel spreadsheets, including filters and sorting
• Breaks may be annotated with shared and / or private notes
• Individually personalised filtering and sorting
• Search for multiple securities and account codes
• Filtering for selected break reasons
• Clear highlighting and identification of broken fields