Securities finance vendor Pirum has extended its integration with JP Morgan’s tri-party collateral management platform, supporting optimisation for mutual clients.
Clients will be able to manage and optimise collateral, funding and liquidity through Pirum’s CollateralConnect platform. Through this new deal, mutual clients will be able to direct triparty collateral allocations based on their own or third-party optimisation algorithm.
As a result, firms will benefit from straight-through processing on intra-day margining and automated collateral coverage.
“We offer clients an integrated way to connect to our services, share data, automate processing and drive better results, and CollateralConnect helps mutual clients do that more efficiently,” said Graham Gooden, head of collateral services EMEA at JP Morgan. “As collateral optimisation continues to rise in importance, it’s our role to help clients direct allocations across their trading counterparties as granularly and effectively as possible.”
Todd Crowther, head of corporate development at collateral services at Pirum, acknowledged the support of JP Morgan through the development of the CollateralConnect service. “We are proud to be enabling mutual clients to help in leveraging the JP Morgan tri-party platform to achieve better operational and financial efficiencies with relatively minimal time and effort on their part.”
With a wave of post-trade regulation around securities finance, automation and technology vendors like Pirum have become crucial players in helping the industry meet the new wave of rules.
Earlier this month, the company also integrated BNY Mellon’s North American collateral schedules into the CollateralConnect platform.