Pirum’s CoacsConnect solution has been chosen by a leading US-based electronic broker/dealer, Interactive Brokers, to automate corporate actions and thereby mitigate risk, reduce costs, and improve efficiency for its customers globally.

New York, NY, January, 28, 2025 – Pirum, a trusted technology partner for securities finance automation and collateral management, today announced that Interactive Brokers, an automated global electronic broker, has adopted CoacsConnect to automate corporate actions for its clients worldwide.

Pirum’s CoacsConnect offers a centralized solution for managing corporate actions, including income claims and voluntary corporate actions functionality. The solution caters to each client’s individual requirements and tech stack and currently processes on average US$3.8bn of corporate actions daily.

In selecting the CoacsConnect solution, Interactive Brokers set out to unlock efficiencies through strategic collaborations and mitigate risk in how the global firm processes corporate actions.

Interactive Brokers chose CoacsConnect, as a result of Pirum’s proven track record of best-in-class automation services, covering the entire securities lending trade life cycle, as well as the firm’s industry-leading connectivity across the securities finance ecosystem.

With CoacsConnect, Interactive Brokers intends to streamline its operations: clean up receivables, reduce email traffic, and accelerate response times with counterparts. Automated payments also mean quicker payment times and reduced open claim balances. In addition, the centralized solution was identified as offering a valuable risk mitigant, with full audit trails, updates, and alerts to identify and notify of time-critical actions to be taken.

Jacob Koopmans, Chief Revenue Officer at Pirum, said: “We are delighted that Interactive Brokers chose Pirum for automating corporate actions flows. Even within leading organizations, processing of corporate actions has traditionally relied heavily on manual processes. Thanks to forward-looking firms like Interactive Brokers, which insist on offering best-in-class services to their customers, this past practice is fast becoming outdated. We look forward to collaborating closely with the Interactive Brokers team, to support its roll out of automated and digitalized corporate actions, and to continue developing CoacsConnect, for the benefit of all our clients.”

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 product suite, which covers pre- and post-trade flows, as well as collateral management functionality, 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 and resilience, reduces cost, and facilitates regulatory compliance. It’s network of clients use Pirum solutions to connect, communicate, and process their trades, as well as to manage and optimize their collateral in global financial markets. By connecting industry 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 and resilience, streamlining operations and fostering collaboration. www.pirum.com

Media contacts

Pirum Systems Inc.

Markus Coleman

Director of Marketing

Markus.Coleman@pirum.com