AcadiaSoft Inc., the leading industry provider of risk and collateral management services for the non-cleared derivatives community, today announced that all firms in-scope for Phase 3 of the five-year Initial Margin (IM) rollout have been successfully onboarded onto the AcadiaSoft Hub, including the first buy-side firm to be subject to the rules.
AcadiaSoft has now successfully integrated all IM phase 1, 2 and 3 firms to its AcadiaSoft Hub platform and services.
Eight counterparty groups are in-scope for the Phase 3 of the regulatory framework established by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO). All of the firms use AcadiaSoft’s MarginSphere® platform for the issuance and agreement of regulatory IM calls as well as its Initial Margin Exposure Manager (IMEM) for calculation and reconciliation of IM exposure using either the ISDA SIMM™ or schedule method.
“We are humbled by the trust that firms place in us as they navigate this challenging regulatory landscape,” said AcadiaSoft CEO Chris Walsh. “And we are committed to helping firms achieve IM compliance as efficiently and as inexpensively as possible.”
Mark Demo, Head of Industry and Strategy at AcadiaSoft, added: “We are pleased that the AcadiaSoft Hub has become the one-stop shop for firms under the IM rules. We are now laser-focused on expanding and enhancing the capabilities of the Hub to prepare for the hundreds of firms that will fall under IM phases 4 and 5 in 2019 and 2020.”
AcadiaSoft holds regular working group meetings for IM phase 4 and 5 firms to share lessons learned and to work towards IM compliance as a community.