Fund Recs and CloudMargin Integrate Tools for EMIR Compliance

Reconciliation cloud software provider Fund Recs has partnered with collateral management cloud software provider CloudMargin to offer the first fully integrated, cloud based collateral management and portfolio reconciliation platform.
By Jake Safane(2147484770)
Reconciliation cloud software provider Fund Recs has partnered with collateral management cloud software provider CloudMargin to offer the first fully integrated, cloud based collateral management and portfolio reconciliation platform.

Within the platform, Fund Recs provides the operational control and collateral dispute resolution tool of portfolio reconciliations within a single user interface with CloudMargin, which offers end-to-end collateral management workflow for the full spectrum of margined products such as OTC bilateral and cleared derivatives, futures and options, repo and reinsurance.

The partnership helps derivatives users comply with the reconciliation requirement of the European Market Infrastructure Regulation (EMIR) and can improve processing efficiency and minimize risk, say the companies.

“Clients are increasingly rejecting the outdated technology, high prices and slow implementation of traditional financial technology companies,” says Andy Davies, CEO of CloudMargin. “They are looking for state of the art services that simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations. Whether the client’s prime focus is monitoring counterparty risk, optimizing balance sheet inventory or reconciling their portfolios, CloudMargin and Fund Recs together provide the solution the market needs and we’re delighted to enter into this partnership.”

“The team at CloudMargin shares our vision for the new breed of financial services software—innovative, value creating and backed up by industry expertise,” says Alan Meaney, director of Fund Recs. “Just as we are re-imagining reconciliations at Fund Recs the team at CloudMargin are leveraging their years of experience in collateral management to create a new, user focused collateral management solution. This partnership will allow us to integrate data on both our platforms to benefit our shared customers by reducing the need to send out similar data sets to multiple vendors.”

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