Societe Generale has extended its partnership with Lombard Risk to use its flagship collateral management platform COLLINE for listed derivatives.
The French bank will use the platform to centralise and automate its collateral management operations across its prime services and securities services businesses globally.
Societe Generale will expand its partnership with Lombard Risk, which already leverages the tech vendor for its OTC derivatives and clearing business, for its listed derivatives operations.
“We are seeing this as a new trend in the marketplace as banks are recognising the benefits of centralising collateral management onto a single platform,” said Helen Nicol, global product director, COLLINE, Lombard Risk.
Over the first quarter alone, Lombard Risk has gone live with five major clients for its COLLINE system across the US, Canada and Europe. Last year, it launched its exchange traded derivatives (ETD) module, extending it to reach all asset classes and products.
“Lombard Risk has been an excellent partner in responding to our group’s global collateral management challenges and we see clear benefits for us and our clients, who are seeking a more agile and robust solution. This extended partnership demonstrates the high quality of service, trustworthiness and commitment offered to our business,” added Franck Docquier, global head of collateral management operations, Societe Generale.