Pirum sets up connectivity to US domestic tri-party agents

The expansion builds on Pirum's existing real-time connectivity to the four international tri-party agents.

By Joe Parsons

Securities finance automation provider Pirum has expanded its offering by establishing a US domestic tri-party connectivity.

Building on its existing real-time connectivity to the four international tri-party agents, Pirum is now able to assist clients in calculating and instructing tri-party collateral requirements (RQV) for US domestic tri-party.

The RQV service has accelerated over the last two years, with Pirum currently calculating more than $1.4 trillion of collateral requirements daily.

“This is an exciting development for our North American product offering and an important addition to Pirum’s exposure and collateral management services,” said Rajen Sheth, CEO, Pirum.

“Adding US domestic tri-party connectivity was a high priority for our clients as the market evolves to support broader forms of collateral.”

In addition to tri-party automation, Pirum’s other flagship products, ExposureConnect and CollateralConnect, offer institutions an enterprise-wide collateral management solution, enabling clients to manage collateral in a global and centralised manner.