Pirum is excited to announce the launch of the borrower automation solution with its Recalls Manager service, enabling full automation of the recall lifecycle with its first clients well ahead of the fast approaching deadline of T+1 settlement in the US, Canada and Mexico in May 2024.

Pirum is going live with multiple global agent lenders over the coming weeks with a number of others later this year.

Pirum’s Recalls Manager service is a global, fully interoperable Recalls Service, which streamlines and automates the entire end-to-end recall workflow. Upon adoption, it allows lenders and borrowers alike to seamlessly agree and automate the management of recalls across all of their counterparts [Read more].

The service provides an essential tool to assists firms with compliance ahead of T+1 regulation in the US, Canada and Mexico next year and future proofing them for the expected move to T+1 in the UK and EMEA. It has been deliberately designed to be fit for purpose, no matter the domicile of participant or the asset type being traded.

Pirum’s Recalls Manager transforms the recalls management process and clients significantly reduce latency, increase efficiencies and reducing operational costs.