Linedata Services (Bloomberg: LIN:FP), the global leader for investment management and credit technology, today announced that it has introduced enhanced repurchase agreement (“repo”) and collateral management functionality in its award-winning LongView Trading platform. The move will allow the buy side to gain efficiency in managing overnight money across multiple custodial banks.
The move presents a major advance for the buy side, where many firms have very little automation around both overnight cash management and collateral management functions. With this new functionality, Linedata Services is helping to improve efficiencies and reduce costs in the continued evolution of cash markets.
“Our clients’ overnight money often ends up chasing basis points in the Tri-Party Repo market, for example. During the global crisis, clients recognized that they were having trouble with the daily monitoring of repo collateral against their cash investments,” said Joe Kohanik, vo of Fixed Income and Derivatives Product Management for Linedata Services in North America. “By working closely with clients we are delivering a solution that facilitates their workflows and enhances their risk mitigation toolset.”
LongView’s repo and collateral management functionality is unique because it significantly enhances the user experience while removing the impediments that typically preclude repo processing on OMS systems. On a daily basis, repo roll processing, the ability to “roll over” recurring investments in overnight cash day-to-day, incorporates collateralization checks, providing a more fluent workflow.
“Linedata Services has always stayed on the forefront of technologies, functionalities and tools that make the lives of our clients easier, and improve efficiencies,” said Gavin Little-Gill, global head of Asset Management Product Strategy for Linedata Services. “The new cash management functionality speaks to our commitment to our clients and highlights the significant investment in our fixed income and derivatives capability released over the past two years.”
