NORWELL, Mass.--(EON: Enhanced Online News)--AcadiaSoft Inc (“AcadiaSoft”) is pleased to announce connectivity between its electronic messaging solution, MarginSphere®, and IBM ® Algo Collateral ® providing full two way integration.
Using the newly launched IBM Algo Collateral ® Open Connect ® adaptor, margin calls can now be transferred directly to MarginSphere® from the IBM Algo Collateral ® workflow. The messaging solution implements straight-through margining representing a seamless exchange through automated processing of margin calls and related information. This delivers tangible benefits in achieving operational efficiencies and preparing for Dodd-Frank and EMIR requirements including:
- Speeding up margin call processing times
- Removing reliance on email for client communications
- Reducing need for dual-key entry
- Supporting greater user efficiency and cost reductions
- Providing clear and logical audit trail of all communications
- Supporting business growth across OTC, Cleared, Repo & Securities Lending business
MarginSphere® is the result of collaboration between AcadiaSoft and several of the industry’s largest financial institutions. It is a margin confirmation community where counterparties engaged in collateral management electronically confirm margin calls, statements, substitutions and interest statements. MarginSphere® enables the reduced reliance on and progressive elimination of emails for communicating and agreeing margin events and information.
Neil Murphy, Risk Analytics, IBM, commented: “The collateral margin call process was largely unchanged in over 10 years prior to the credit crisis, and like much of the OTC industry, was often reliant on manual processes. Automation and systems inter-operability are crucial steps to improve not only communications between firms but also to support business growth, cost reductions and reduce risk levels. We expect electronic messaging to replace email as the standard for all collateral related communications.”
Chris Walsh, Chief Operating Officer of AcadiaSoft, commented: “MarginSphere® provides industry standard automation of the margin process – a critical element of our clients regulatory and operational plans. We have a significant number of clients, on both the buy and sell side, leveraging the IBM application for collateral management. By collaborating to create automation we believe we have created the right solution at the right time – allowing these clients to satisfy regulatory requirements and achieve new levels of efficiency.”
About AcadiaSoft: www.acadiasoft.com AcadiaSoft is uniquely focused on delivering margin automation for counterparties engaged in collateral management. Headquartered in Boston and London, AcadiaSoft was founded through collaboration between major financial institutions to create solutions that support full implementation of documented ISDA Collateral Requirements. Our Advisory Groups, Best Practice Forums and Working Groups carry provide a unique framework for integrating the thought leadership and capabilities of market participants, market infrastructures and key service providers across the industry. It is this framework and commitment that enables us to innovate on an industry-wide basis.
About IBM: see www.IBM.com/