Pirum has extended its integration with Euroclear’s triparty collateral management platform. This enables mutual clients to use Pirum’s CollateralConnect service to optimise their collateral by sending directed allocations to Euroclear.
Pirum, the trusted technology partner for securities finance automation and collateral management, announced today the extension of its CollateralConnect service integration with Euroclear’s triparty collateral management platform to support mutual clients’ collateral optimisation needs.
The extended connectivity between Pirum and Euroclear allows mutual clients to direct collateral allocations to Euroclear’s triparty collateral management environment. To determine their optimal collateral allocation, mutual clients can use their own or a third-party optimisation algorithm and their ‘sources and uses’ portfolio data held by Pirum. This provides firms with intelligent, straight-through processing (STP) functionality to streamline intra-day margining, automate directed collateral coverage and drive efficient collateral usage and mobilisation.
The CollateralConnect service offered by Pirum delivers a real-time and automated solution for efficient management and optimisation of collateral, funding and liquidity. The service provides accurate and comprehensive data that enables highly complex, multi-objective optimisation outcomes, including by mitigating risk and maximising financial resource efficiencies.
Marije Verhelst, Head of Product Strategy and Development Collateral Management and Securities Lending at Euroclear said: “We fully support initiatives that make collateral flows more efficient and optimal for our clients and the industry. Extending our connectivity and enhancing our collaboration with Pirum provides a great opportunity for us to deliver even more value to our mutual clients.”
Todd Crowther, Head of Corporate Development and Collateral Services at Pirum said: “We are excited to extend our collaboration with Euroclear to support mutual clients’ demand for enhanced optimisation. Connecting Euroclear’s triparty platform to our CollateralConnect service addresses industry participants’ need to drive better business performance through seamless connectivity, interoperability and intelligent, data-driven automation.”
