Nordic Investment Bank (NIB) has selected Omgeo ProtoColl, an end-to-end collateral management solution, for its OTC derivatives trades.
With Omgeo ProtoColl, NIB automates its collateral management process for OTC derivatives, which can reduce exposure to operational and counterparty risk and increase efficiency. NIB also now reconciles its OTC portfolios with counterparties, which helps to manage cash collateral, complete margin calculations and issue notices directly to counterparties.
As OTC derivatives trading volume continues to increase, we needed a single solution that would provide us with the insights to effectively measure and manage our counterparty risk, says Lars-Ake Olsson, senior director of NIB. We chose Omgeo ProtoColl because of its robust capabilities as well as its accelerated implementation timeframe.
NIBs adoption of ProtoColl is particularly timely given an increasing regulatory burden in the OTC derivatives space.
Our clients are always looking for ways to lower their risk and improve process automation, says Martin Loxley, director of collateral management at Omgeo. We are extremely pleased to be helping NIB achieve its goals of implementing a one-stop collateral management solution in its OTC derivatives operation with Omgeo ProtoColl. As the industry focuses more and more on transparency and improved operational processes, automation within the OTC derivatives space will continue to increase.
(CG)