Pirum announces that its new ClearingConnect solution, which offers centrally cleared trading of Securities Finance Transactions (“SFTs”) to industry participants globally, is live and in use by clients in Europe.
London, UK, 9 March, 2025 – Pirum, the trusted technology partner for securities finance automation and collateral management, today announced that its ClearingConnect solution is live and already in use, supporting centrally cleared trading of Securities Finance Transactions in Europe.
Pirum’s ClearingConnect is an innovative turn-key solution that offers industry participants valuable benefits, including:
- Improved capital efficiency and risk mitigation;
- Reduced build and maintenance costs;
- Seamless processing of cleared life-cycle events;
- Interoperability with existing Pirum solutions, enabling Straight Through Processing (“STP”) across the full securities lending trade life cycle; and
- 100% coverage of cleared activity via one centralised solution.
Closely following clients that are already live, including Cboe Clear Europe, a wave of industry participants are in advanced stages of integration with ClearingConnect, and Pirum is working in lock step to support their go live journey.
Commenting on ClearingConnect, Jan Treuren, SFT Product Lead at Cboe Clear Europe, said “Since the start of our journey to launch a SFT clearing service, we have appreciated the trust, dedication and commitment shown by Pirum. We are excited to work together over the coming weeks and months to establish central clearing within the SFT ecosystem and explore its potential expansion into other regions and asset classes.”
Rob Frost, Chief Product Officer at Pirum, said: “ClearingConnect represents another leap in Pirum’s ability to support clients across the full securities finance transaction, whether centrally cleared or bilaterally settled. As the globalisation of clearing proceeds at pace, we are delighted to support industry participants, globally, with the expected growth in SFT central clearing this year and beyond.”
Pirum remains at the heart of securities finance automation, by supporting and connecting our clients with their counterparts, trading platforms, collateral and settlement venues, trade repositories, and now, central counterparty clearing houses (CCPs).
