Pirum, a globally-recognised leader in securities finance automation has launched its new Trade Risk Manager service ahead of the go live of the European Central Securities Depository Regulation’s (CSDR) new Settlement Discipline Regime, which comes into force from 1st February 2022, mandating at a minimum cash penalties for failed trades. 

 

Trade Risk Manager is a front office risk management and workflow tool that provides live risk dashboards as well as workflow tools to communicate, escalate and resolve risk across the entire post trade process, not just those related to CSDR.

 

The service has launched in partnership with in excess of 20 global clients, consisting of leading Prime Brokers and Agent Lenders all of whom contributed to the product roadmap.

 

Robert Frost, Global Head of Product at Pirum said: “We are hugely excited to launch  Trade Risk Manager in partnership with our clients, with whom we have worked closely to identify common challenges and manual processes that require automated solutions. Trade Risk Manager is an industry first. It is one of several planned products and features that we are launching as part of our FutureTech Initiative as we continue to automate processes across the securities finance trade lifecycle”.

 

Phil Morgan, CEO at Pirum said: ”CSDR is undoubtedly a headwind for our industry, however, it is making us all re-focus on the operating eco-system and the inefficiencies that still abound. Trade Risk manager is a very positive step in our collective aim of automating the complete workflow in securities finance.”