ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announces today that it has made a further investment in AcadiaSoft, Inc, a provider of electronic margining for over the counter (OTC) derivatives. The investment is alongside DTCC, Euroclear and four additional banks, for a total of 13 bank investors.
Simultaneously, ICAP’s TriOptima has entered into commercial agreements with AcadiaSoft and DTCC-Euroclear Global Collateral to link AcadiaSoft’s MarginSphere® 2 messaging service with TriOptima’s triResolve OTC trade reconciliation service and the Margin Transit Utility operated by the DTCC-Euroclear joint venture, creating an open, seamless, end-to-end collateral processing hub for non-cleared derivatives.
Commenting on the announcement, Michael Spencer, Group Chief Executive Officer of ICAP, said: “This cooperation between AcadiaSoft, TriOptima, DTCC-Euroclear and our partner banks is very exciting and we look forward to working with the other shareholders to create a true industry solution. We will combine TriOptima’s expertise through its triResolve portfolio matching service with AcadiaSoft’s margin messaging platform which will facilitate regulatory compliance and a reduction in operational costs and risks.”
Through Euclid Opportunities, an ICAP-owned early stage funding programme, ICAP supports innovative financial technology firms in the areas of post-trade risk management, data and financial market applications. Euclid Opportunities forms part of the post trade division of ICAP, which also comprises TriOptima, Traiana, Rematch, Reset and ICAP Information Services.
