Wematch and Pirum Systems announce go-live with Bank of America on their integrated service on Securities Lending.
Wematch and Pirum have partnered to develop a fully integrated front to back service solution for clients using the Wematch platform. The first end to end securities finance transactions were executed by Bank of America on 10th June and processed in a fully interoperable manner between the organisations.
With this new partnership, clients can match and negotiate trades in Wematch, and leverage connectivity with Pirum to manage all post-trade lifecycle events in a fully STP manner.
Pirum and Wematch are now fully connected and all post-trade and lifecycle events will be automatically reflected in the platform for all connected clients.
David Raccat, Head of EMEA at Wematch, said: “The interoperability with Pirum on Securities Lending is completing our current offering with a fully low touch workflow and we are convinced this upgraded setup will benefit all Dealers. The pre-trade workflow we have built in Wematch combined with the best-in-class post-trade offering of Pirum will make the whole process seamless and very powerful.”
Robert Frost, Head of Product Development at Pirum said: “As a result of consistent client interest, we are excited to add Wematch to our growing connectivity hub, which now includes TR’s, CCP, Data providers, Tri-party venues as well as trading platforms. It has been a pleasure working with the innovative team at Wematch and we look forward to enabling market participants to GetConnected as they automate their trading activity.”