BNP Paribas Securities Services has emerged as a leading derivatives clearing provider in Italy, having won a number of clearing and collateral management mandates.
The solution follows a partnership with AcadiaSoft’s Initial Margin Risk Suite for automating collateral management processes.
The move makes Deutsche Bank the first of the major global banks to adopt cloud technology for collateral and margin management.
AcadiaSoft’s flagship MarginSphere well help streamline and automate the margin process for Charles River IMS and its middle-office teams.
As Brexit looms, Societe Generale is to open a new base in Paris for clearing of derivatives and OTC products by the end of the year.
BNP Paribas will use the FIS solution to increase its visibility around initial margin on its cleared derivatives transactions.
CACEIS will also act as the main listed derivatives clearer for the French investment bank.
Pension funds will have to begin clearing OTC derivatives contracts on 17 August 2018, despite calls for a third extension.