Clearstream and Pirum expand collateral connectivity

The enhanced connectivity aims to reduce collateralisation timeframes and improve efficiencies along the value chain.

By Chris Lemmon

Clearstream and securities finance automation provider Pirum have expanded their collateral connectivity with the launch of new services.

The roll-out will allow mutual clients to automate the calculation, matching, submission and validation of collateral requirements for securities lending, repo and OTC derivative transactions.

In addition, the connectivity aims to reduce collateralisation timeframes and improve efficiencies along the value chain, with a view improving settlement rates.

Jean-Robert Wilkin, banking, funding & financing at Clearstream, said: “At Clearstream, providing user-friendly, efficient services supported by best-in-class technology is at the heart of our mission. We are very happy to extend our existing connectivity with Pirum, which contributes perfectly to this goal. By automating collateral management services, we increase interoperability and reduce complexity throughout the entire process for our mutual clients and the whole market.”

Todd Crowther, Pirum’s head of collateral services, added: “We are delighted to extend our connectivity with Clearstream and to work together to help mutual clients achieve improved exposure management and collateral optimisation results. Pirum’s aim is to support the industry’s need to extend interoperability and automation across the wider collateral ecosystem and support market participants’ drive to streamline and centralise margin management across all collateralised products.”  

«