Pirum now supports clients with their MiFID II collateral reporting requirements.
Pirum, a globally-recognised leader in securities finance automation has enhanced its collateral management service (Collateral Connect) by supporting clients with their MiFID II collateral reporting requirements.
This new functionality allows Pirum’s clients to report at scale, in the format and frequency regulators require, to all their counterparts.
Under article 63 of MiFID II regulation, investment firms that hold client financial instruments or client funds are required to send, at least on a quarterly basis, a statement (in a durable medium) of those financial instruments or funds to each client.
Robert Frost, Global Head of Product at Pirum said: “We continue to work closely with our clients to understand the evolving regulatory requirements that they are required to meet. We always look to leverage our extensive data and connectivity, and we have a proven track record of supporting our clients with highly automated solutions.”