Pirum's Billing Delivery is a big hit
Our billing delivery service, only introduced in December 2008, has been a particularly big hit with our users this year. In December alone, over 550 bills in user friendly Excel format were securely delivered. Clients are increasingly using the service to deliver all of their bills even to counterparties who are not yet on the Pirum platform.
From 1 January 2010 the billing delivery service will be FREE OF CHARGE to clients as part of our core contract compare and billing comparison services
Please contact us to find out more and have automated billing delivery set up for your company.
Pirum Systems have moved offices
To cope with future expansion plans we have moved to larger premises:
Pirum Systems Limited
4 Eastcheap
London EC3M 1AE
support@pirum.com
+44 20 7220 0979
For details of how to find us look at the Contact Us page
Pirum Systems goes live with its groundbreaking real-time Automated Returns - Another industry first
Pirum continues to lead the way in groundbreaking innovation in Securities Finance post trade automation with the go live of our new Automated Returns service. This service revolutionises the calling in and booking of returns, streamlining an operationally intensive process for both borrowers and lenders that is prone to error.
Borrowers simply book the return directly in their internal system and the near real-time feed to Pirum will ensure the return is captured within minutes.
Lenders can specify under which circumstances returns are automatically accepted, rejected or need manual approval - this includes cut off times which can differ between counterparties. Pirum's sophisticated matching algorithm identifies the correct trade on the Lender's side (taking fee/rebate and dividend rates into account amongst other fields) and subject to passing the Lender's rules will be booked directly into the Lender's internal system using the lender’s trade reference.
Intuitive workflow screens manage any exceptions, allow the Lender to approve (or reject) any returns requiring manual approval and allow both the Borrower and Lender to track the status of all instructed Returns.
Introducing Real-time contract compare to Securities Finance for the first time
A first in the securities finance industry, Pirum's real-time contract compare brings new efficiencies and more timely management of Operational Risk in the post trade world.
Real-time contract compare enables users to fix breaks in their internal systems and see the new compare results in minutes. Users will know if their changes have been successful and any new breaks can be cleared intra-day.
This reduces the impact on daily P&L of keying errors as they can be identified and corrected same day and stops users having to remember to review their corrections the following day.
Real-time Cash Pool
Clients using Pirum's real-time Marks and Exposure services can view cash pool balances in near real-time allowing for intra-day agreement and resolution of differences.