DTCC-Euroclear Global Collateral continues to ring in changes with NEX margin call link

DTCC-Euroclear Global Collateral partners with NEX to improve OTC derivatives margin call processes following changes in its senior leadership roles.

By Joe Parsons

DTCC-Euroclear Global Collateral and financial technology group NEX have partnered to improve OTC derivatives margin call processes.

NEX will now link its triResolve Margin web-based collateral management solution with GlobalCollateral’s Margin Transit Utility (MTU) to provide mutual clients with a centralised view across margin call operations.

GlobalCollateral is now headed up by Euroclear’s global head of collateral management, Olivier Grimonpont, while Global Custodian also understands that its former chief commercial officer Ted Leveroni has left the company.

A spokesperson for DTCC confirmed his departure.

GlobalCollateral was created in 2014 in a bid to streamline collateral management and settlement.

After a series of delays in launching MTU, DTCC-Euroclear has been active in adding improvements over the past 12 months.

In 2017, the service partnered with FinTech firm CloudMargin and tech vendor LombardRisk to boost access for the utility.

Furthermore GlobalCollateral launched the inventory management service (IMS), allowing clients to mobilise securities from the US to Europe for use as collateral. 

“Many of today’s collateral management processes continue to be manual and siloed. As a result, greater levels of automation and straight through processing are urgently needed, if firms are to keep pace with regulatory requirements and fluctuations in margin call volumes,” said Mark Jennis, Executive Chairman at GlobalCollateral. 

“We welcome the opportunity to partner with NEX to not only increase automation and STP, but to also offer an easier path to adoption via the pre-integration of our services.”