19 January 2018
visit www.ebaday.com

CloudMargin and Strate forge STP alliance

18 July 2017  |  2586 views  |  0 Source: CloudMargin

South African market participants can now enjoy unprecedented automation and straight-through processing by leveraging newly available, integrated cloud-based technology to exchange tri-party SWIFT1 messaging for collateral instructions, settlement and confirmations.

CloudMargin, the multi-award winning creator of the world’s first web-based collateral and margin management solution, and Strate, the South African Central Securities Depository (CSD) and South Africa’s first Tri-Party Collateral Management Agent, today announced that they have just integrated their platforms. The move makes tri-party messaging and collateral optimisation more accessible for both buy- and sell-side participants in the country.

The agreement enables clients to efficiently and seamlessly use their collateral held at Strate to cover their margin calls in the over-the-counter (OTC) derivatives market. For local market participants without their own SWIFT membership, this previously would have been a time-consuming, manual process to handle messaging related to collateral instructions, confirmations and settlement. Now, they can take advantage of the CloudMargin and Strate Collateral Management Services straight-through processing capability via SWIFT.

Due to the fact that the solution is cloud based, collateral management clients can implement it quickly at a reasonable cost, the firms said.

Lee McCormack CloudMargin Head of Strategy, said: “We are delighted to roll out this breakthrough service in conjunction with Strate Collateral Management Services to market participants in South Africa, helping them increase their efficiencies via our cloud-based platform. We are continuing to build an inter-connected network of organisations globally that give clients one-stop access to a broad range of collateral management and other related services for cleared and uncleared derivatives transactions.”

Steve Everett, General Manager of Strate Collateral Management Services, said: “We are delighted to partner with CloudMargin to provide a fully integrated, cost-effective and powerful collateral management capability to the South African market. This comes at a time when firms here are preparing to meet the requirements of the non-cleared OTC derivatives margin regulation due to take effect on Sept. 1, which will require enhanced collateral management capability from both the buy-side and the sell-side.”

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.niceactimize.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11823 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
7252 views comments | 11 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
6876 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6400 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job