13 Mar 2023
Pirum CollateralConnect is live with BNY Mellon triparty for global collateral optimization
Pirum’s collateral management platform, CollateralConnect, has extended its existing connectivity with BNY Mellon to allow mutual clients to self-direct triparty collateral allocations utilising their optimization algorithm. By leveraging Pirum’s existing market-wide connectivity, the platform now offers a full front-to-back solution to support enterprise-wide optimization across fixed income, securities finance and derivatives.
The CollateralConnect Service delivers a real-time, automated and comprehensive collateral solution for clients to efficiently optimize collateral, funding and liquidity. It addresses the industry need for an enterprise-wide solution which centralizes collateral management and optimization to support a variety of businesses lines, disparate product silos and multiple collateral venue locations including triparty agents, bilateral activity, CCPs and exchanges.
Clients (over 50 of the world’s largest financial institutions) are able to leverage Pirum’s collateral management services to streamline their intra-day margining, achieve optimal exposure coverage and drive efficient trading, inventory management and collateral mobilisation. CollateralConnect helps to achieve complex, multi-objective optimisation outcomes and supports our client’s drive to better mitigate risk, improve firm liquidity and maximise financial performance.
Todd Crowther, Head of Corporate Development and Collateral Services at Pirum said: “We offer clients a turn-key way to connect to quickly and efficiently to the collateral ecosystem, enabling intelligent decisions through real-time data and automation in order to directly drive better results. We are now enabling clients to leverage this connectivity to BNY Mellon triparty platform to achieve better operational and financial efficiencies with relatively minimal time and effort on their part.”