CloudMargin, the multi award-winning provider of innovative web-based collateral and margin management workflow, has announced it has become the first cloud-based collateral management solution to become a member of SWIFT, providing CloudMargin clients with direct market connectivity through SWIFT - consolidating multiple collateral pools, margin messaging, automating collateral deliveries, receipts and substitutions and monitoring settlements.
This seamless SWIFT connection will enable direct, automatic, access to financial institutions across the globe, which has been a non-existent luxury within a market dominated by emails, exchanges of spreadsheets and faxes until now. This collaboration offers CloudMargin’s clients a single, highly functional and cost-effective one-stop-shop to automate collateral processing with their multiple banking partners, cash agents and custodian networks.
For the first time, firms can use a single platform with a single user interface to calculate and validate exposures; exchange messages and negotiate figures with their counterparties; maximise and optimise inventory usage across multiple collateral pools; send delivery, receipt and substitution instructions direct to market and monitor collateral settlements. All of this in real-time with exception-based processing, maximum STP and a full audit trail to back it up.
Andy Davies, Founder of CloudMargin said: ““Game changer” is greatly overused in the capital markets technology world but that’s exactly what we’ve developed. Never before has this level of automation and end-to-end connectivity been seen in an off-the-shelf application that only requires a single, simple, low-touch integration. It reinforces CloudMargin’s position as the most innovative, functionally complete and accessible solution in the market. I’m thrilled that CloudMargin continues to lead the way in transformational technology for collateral management.”
Keith Tippell, Head of Securities at SWIFT said: “CloudMargin’s adoption of SWIFT connectivity and standards is a great example of a vendor business partnership driving further automation and efficiency for our community. This particular engagement forms part of SWIFT’s wider global efforts to assist members with STP programmes for collateral management.”