23 October 2017
visit www.avoka.com

AcadiaSoft buys ProtoColl from DTCC

21 November 2016  |  2808 views  |  0 Source: AcadiaSoft

AcadiaSoft, Inc., the leading industry provider of margin automation solutions for counterparties engaged in collateral exchange worldwide, today announced it has acquired ProtoColl, an end-to-end collateral and margin management service, from The Depository Trust & Clearing Corporation (DTCC). Terms of the deal were not disclosed.

This coming March, thousands of buy-side firms and smaller banks will become subject to new variation margin (VM) rules for non-cleared OTC derivatives that went into effect September 1 for the largest global banks, all 24 of which are using the AcadiaSoft Hub in order to comply. The purchase of ProtoColl accelerates AcadiaSoft's ability to provide market participants with automated VM processing services, creating a Central Margining solution for both IM and VM flows.

"The Hub is running smoothly, managing significant volumes from the world's largest global banks," said Chris Walsh, CEO of AcadiaSoft. "The combination of AcadiaSoft and Protocoll creates an end-to-end risk management solution that is a major step toward the industry's goal of automating the entire margining process on a single platform."

"This expanded market infrastructure benefits all firms within the derivatives industry," added Mark Demo, Product Director for AcadiaSoft. "Small to mid-sized firms now have the basic margin functionality required to automate; large banks get the long-term platform required to substantially reduce costs; and firms of all types and sizes can reduce disputes to manageable levels using standardized data, calculation methods and workflows."

The acquisition also enlarges the AcadiaSoft team, which now surpasses 100 people. The company recently opened a new, more spacious New York office and expanded its London facility to accommodate the rapid employee growth.

The AcadiaSoft Hub is a central margining platform which acts like a collateral operating system to automates, standardizes and integrates margin calculations, reconciliations, communication and disputes management for counterparties involved in the margining process.  

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19402 views comments | 28 tweets | 42 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15195 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10985 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9036 views comments | 14 tweets | 28 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job