Pirum has integrated its connectivity services with the Triparty Collateral Services of BNP Paribas’ Securities Service business, to provide mutual clients with real-time, automated exposure and collateral management solutions. Mutual clients will be able to connect via Pirum services to fully automate margin calculation, agreement, and instruction, as well as collateral management and optimization.

London, UK - 9 October 2024 – Pirum, the trusted technology partner for securities finance automation and collateral management that has been at the heart of capital markets for over two decades, announced today that it has connected its exposure and collateral management solutions to BNP Paribas’ Securities Services business, a leading global custodian with USD 13.9 trillion in assets under custody, for the benefit of mutual clients.  

As a result of the collaboration, mutual clients of BNP Paribas’ Securities Services business Triparty Collateral Services and Pirum now gain automated exposure and collateral management processing visibility, efficiency and transparency across their securities lending, repo and OTC derivative transactions. 

 

Pirum, a best-in-breed securities finance and collateral management/optimization platform, automates the management of the entire collateral lifecycle – from calculation and matching to submission and validation of collateral requirements and allocations. Pirum’s Exposure Management service enables clients to significantly reduce settlement fails and CSDR penalties, as well as collateralization timeframes, whilst increasing operational efficiencies for all participants. 

 

Frédéric Pascal, Head of Market and Financing Services, Securities Services, BNP Paribas, said: “The connection between Pirum and our Triparty Collateral Management platform is a major milestone in the development of our franchise. Our goal has always been to help clients deliver on their Securities Finance strategy while making the move to Triparty as easy as possible. With Pirum as a new partner, we are excited to be able to keep on delivering on that promise to our mutual clients.” 

 

Rob Frost, Chief Product Officer at Pirum, said: “We are thrilled to go live with our valued and trusted partners at BNP Paribas’ Securities Services business. Connecting their Triparty platform to our collateral management and optimization services represents a new and exciting chapter in our collaborative story, which was founded on a mutually held core principle of continuously seeking to improve the client experience. The move also helps to increase connectivity and liquidity across the French SBL, repo and OTC derivatives sectors, making this a win for the entire securities finance industry.” 

 

About Pirum

Pirum was founded in 2000 with the objective of automating the securities finance and collateral management industries. The Software as a Service (SaaS) platform has since become the industry gold-standard, globally, for automation and connectivity solutions. Today, the Pirum platform is used and trusted by over 150 leading financial institutions around the world, covering both buy- and sell-side activities. Pirum delivers automation, operational efficiency, regulatory compliance, resilience, and reduced cost for its network of clients, who use Pirum’s solutions to connect, communicate, optimize and process their trades in global financial markets. By connecting market participants around the world, the Pirum dynamo sits at the heart of a complex multi-party financial markets eco-system, all the while increasing transparency, streamlining operations and fostering collaboration. pirum.com

Securities Services at BNP Paribas

BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 30 June 2024, Securities Services had USD 13.9 trillion in assets under custody, USD 2.8 trillion in assets under administration and 9,155 funds administered. securities.cib.bnpparibas

Media contacts

Pirum

Markus Coleman

Director of Marketing

Markus.Coleman@pirum.com

 

Securities Services at BNP Paribas

Arnaud Liziard

Global Head of External Communications

arnaud.liziard@bnpparibas.com