Source: Lombard Risk
Lombard Risk Management plc (LSE: LRM), a leading provider of collateral management and regulatory reporting solutions, announces that it has extended its global strategic partnership with Societe Generale, one of the largest financial services groups in the world, for the Collateral Management Solution COLLINE.
Societe Generale will use the award-winning collateral management solution to centralise and automate its cross-product collateral management operations across its various business lines. This includes both Societe Generale’s investment bank and its prime services and securities services businesses globally, with users located in New York, Chicago, London, Paris, Bangalore and Chennai, India. COLLINE® will be deployed on Societe Generale’s internal cloud to ensure the highest level of scalability, resilience and flexibility of the centralised platform.
As part of this extended global strategic partnership, COLLINE® will be used for the Collateral Management and Optimszation of the Exchange Traded Derivatives (ETD) business of Societe Generale in addition to the Over-The-Counter (OTC) and Clearing business lines. The decision follows a competitive global selection process, and will allow Societe Generale’s Prime Services business (formerly known as Newedge, one of the largest Futures Commission Merchants globally) to benefit from a robust system to allow higher volume and enable its clients to post a wide range of collateral.
Helen Nicol, Global Product Director, COLLINE®, Lombard Risk commented: “We are delighted that Societe Generale has chosen to strengthen our long standing collateral management relationship and further expand its use to include Exchange Traded Derivatives and optimisation modules. 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.”
Alastair Brown, Chief Executive Officer, Lombard Risk commented: “This extended partnership forms part of our long established relationship with Societe Generale to improve its collateral management processes across all of its businesses. By offering an agile and adaptable solution, Lombard Risk ensures that it can continue to support Societe Generale’s strategic collateral management objectives going forward.”
Franck Docquier, Global Head of Collateral Management Operations, Societe Generale commented: “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. We look forward to continuing our longstanding relationship with Lombard Risk”
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