Euroclear stated the new solution will make tri-party a portable service offering, agnostic of the settlement and custody location.
The final phase would of enforced thousands have asset managers, hedge funds and insurers from September 2020.
BNP Paribas Securities Services has emerged as a leading derivatives clearing provider in Italy, having won a number of clearing and collateral management mandates.
TriOptima’s former CEO and Goldman Sachs veteran Stuart Connolly has been named chief executive at CloudMargin.
The solution follows a partnership with AcadiaSoft’s Initial Margin Risk Suite for automating collateral management processes.
Torstone Technology will add Percentile’s risk and compliance platform to its post-trade services following acquisition.
PPM will use the platform for its entire collateral management margin workflow, collateral optimisation and trade reconciliation processes.
Citi was the first US bank to offer client swap clearing through Eurex, and eight funds have joined Citi to use the service.
The move makes Deutsche Bank the first of the major global banks to adopt cloud technology for collateral and margin management.