Driven by its strong commitment to provide the banking community with sound solutions to support the European market infrastructures integration, Diamis will soon release its Cristal CCBM2 module.
CCBM2 (Collateral Central Bank Management) will ease collateral management by harmonising the various procedures throughout the euro zone. It will also improve the capabilities to cover liquidity needs.
CCBM2 closely interacts with TARGET2 for payments and, in the future, with T2S, in particular with the settlement procedures used by T2S for securities delivery. CCBM2 will therefore contribute to the integration of the European financial market.
Several deciding factors that encouraged Diamis to develop its ad hoc module: CRISTAL CCBM2.
CRISTAL CCBM2 ensures a secure connection to the A2A dialogue offered by CCBM2. Such a connection includes the comprehensive management of user rights and accesses together with full traceability.
CRISTAL CCBM2 supports all features of the CCBM2 optional modules (securities, credit & collateral, credit claims) which enable the management of both the domestic and crossborder collateral mobilisation from both securities and non-marketable debt instruments as
well as the Corporate Actions updates through the Static Data module. It also helps monitoring the use of the pool of collateral and managing the credit freezing feature.
CRISTAL CCBM2 also aims at providing a forecast view of potential liquidity availability through the monitoring of the eligible securities held by the bank and not mobilised with NCBs. Thus CRISTAL CCBM2 provides feeding interfaces from the bank's existing securities applications and A2A links towards (I)CSDs to get pertinent data.
The solution also provides links to other Market Infrastructures, such as TARGET2 and its Ancillary Systems, to allow for a global intra-day pro-active liquidity management.
The CRISTAL CCBM2 module will provide the business agility that financial institutions require. It is designed with flexible and scalable software components, so that it is proposed either as a standalone solution or integrated with an existing core CRISTAL.
Following the example of the official launch of the TARGET2 project, Diamis is currently setting up a CCBM2 Working Group with its existing and prospect customers to review together the scope of CRISTAL CCBM2, based upon the documentation released by the ESCB. The specifications will then be ratified according to further updates of BRD, Interface Guides and HLUC documentation, anticipated to be completed by Q3 2011. The objective is to release CRISTAL CCBM2 by mid-2012 for banks to integrate the component before taking part in the certification phase.
Olivier Hache, CEO of Diamis said: "This project consolidates our strategy to provide sound solutions to help banks to maintain continuous compliance with the requirements of the Eurosystem, while addressing the twofold issue of managing collateral requirement and
liquidity risks. Moreover, convening with practitioners is also a great opportunity to debate the stakes and needs arising from the CCBM2 project."