Pirum enhances collateral management service with analytics module

Securities finance automation firm announces upgrade to CollateralConnect platform to provide enhanced visibility, workflow and controls.

By Jonathan Watkins

Pirum has extended its CollateralConnect platform with the launch of an Exposure Analytics module to help firms better monitor and manage risks within their bilateral and tri-party and collateral management programme. 

CollateralConnect is a cross asset collateral management service which can be used across all types of collateralised transactions including stock loan, repo and over the counter (OTC) to manage collateral requirements across multiple venues. 

The securities finance automation provider said the update provides enhanced visibility, workflow and controls meaning firms can now monitor collateral appropriateness and exposure coverage across all major tri-party and bilateral collateral venues, in real time  

In addition to enhanced risk management, this helps firms to comply with regulatory requirements and prevent breaches under CASS (MiFID) rules along with providing risk and data aggregation data for BCBS and Basel.  

The enhancement comes a month after Pirum added bilateral transactions to the service. 

“Clients have been asking us for an independent overview of their exposure risk as well as analytics to understand, validate and manage their collateralised exposures with counterparts,” said Todd Crowther, head of innovation at Pirum.

“Our new tool brings together the benefits of our real-time collateral management functionality with our advanced analytic tools, helping firms monitor and stay on top of both their day-to-day exposure risks and their compliance obligations.”

Last week, Pirum also announced an enhancement to its Securities Finance Transaction Reporting (SFTR) reconciliation service, a joint solution with IHS Markit.  

The addition allows users to comment on trades within their own teams or with their counterparts using a chat panel. 

Pirum has been operating for almost a year now under new chief executive Phil Morgan, who joined Pirum in 2016 as chief commercial officer.