Automated margin call communication expands Charles River IMS
collateral management capabilities
Charles River Development, a State Street Company, and
AcadiaSoft Inc. have announced a business alliance to automate
communication of margin calls and collateral estimates between
counterparties in the Charles River Investment Management Solution
(Charles River IMS) for OTC and exchange-traded derivatives.
EMIR, Dodd-Frank, OSFO-BSIF, and other regulations based on the
Basel/IOSCO policy framework have increased collateral and margin
requirements for non-centrally cleared derivatives. This has also
led to a significant increase in margin call volumes.
AcadiaSoft’s MarginSphere®, part of the AcadiaSoft Hub, helps
streamline and automate the margin process within Charles River
IMS, connecting market participants and service providers to
simplify workflows for all parties engaged in collateral management
– buy and sell side firms, fund administrators, and clearing
firms.
Expanded collateral management capabilities help portfolio
managers and traders obtain real time pre-trade margin estimates
for exchange traded futures, options on futures, cleared credit and
rates as well as un-cleared OTC derivatives. For middle office
teams, Charles River automates the collateral life cycle, providing
accurate counterparty contract data and a central workbench to
manage all margin call workflows.
“Manual processing is error-prone, costly and is too unwieldy
and risky to support current and emerging regulations,” said Scott
Fitzpatrick, Director Collateral Business and Client Operations of
AcadiaSoft. “MarginSphere® provides a central margin service for
the industry that replaces email and other manual, proprietary
practices with an automated, standard and verifiable electronic
process for all parties.”
“Our partnerships with leading providers of collateral
management services help our clients keep pace with new regulations
governing OTC derivatives,” said John Plansky, CEO, Charles River.
“With derivatives seeing increased use by institutional portfolio
managers, the alliance with AcadiaSoft helps our clients seamlessly
support the full lifecycle of these instruments.”
Charles River was acquired by State Street Corporation in
October 2018 and the combined companies are developing the
industry’s first ever global front-to-back investment servicing
platform**. This platform, supported by deep enterprise data
management capabilities, will enable investment workflows, provide
advanced data aggregation, analytics and compliance tools, and
connect and exchange data with other industry platforms and
providers. Today’s announcement with AcadiaSoft demonstrates the
traction the platform is receiving from key clients and partners
who want to access the enhanced trading functionality and services
as well as deeper pools of liquidity.
About AcadiaSoft, Inc.
AcadiaSoft, Inc. is the leading industry provider of risk and
collateral management services for the non-cleared derivatives
community. The AcadiaSoft Hub encompasses a suite of applications
and analytics that enable and measure the complete STP workflow
from CSA agreement management, risk services, margin and collateral
management through to settlement. Backed by 17 major industry
participants and market infrastructures, AcadiaSoft is used by a
community of more than 650 firms exchanging approximately $400B of
collateral on daily basis via its margin automation services.
AcadiaSoft is headquartered in Norwell, MA and has offices in
London, New York and Tokyo.
For more information visit acadiasoft.com. Follow us on Twitter:
https://twitter.com/AcadiaSoft_ and LinkedIn:
https://www.linkedin.com/company/acadiasoft-inc/.AcadiaSoft® is a
registered trademark of AcadiaSoft, Inc.
About Charles River, a State Street Company
Charles River Development, a State Street Company, enables sound
and efficient investing across all asset classes. Investment firms
in more than 40 countries use Charles River IMS to manage more than
US$25 Trillion in assets in the institutional investment, wealth
management and hedge fund industries. Our Software as a
Service-based solution (SaaS) is designed to automate and simplify
investment management on a single platform – from portfolio
management and risk analytics through trading and post-trade
settlement, with integrated compliance and managed data
throughout. Headquartered in Burlington, Massachusetts, we
support clients globally with more than 750 employees in 11
regional offices. For more information, please visit
www.crd.com
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $33.99 trillion in assets
under custody and administration and $2.81 trillion* in assets
under management as of September 30, 2018, State Street operates in
more than 100 geographic markets worldwide, including the US,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street's website at
www.statestreet.com/platformforgrowth.
*This figure is presented as of September 30, 2018 and includes
approximately $28 billion of assets with respect to SPDR products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
http://www.statestreet.com/platform-for-growth.html
The whole or any part of this report may not be reproduced,
copied or transmitted, or any of its contents disclosed to third
parties without State Street’s express written consent.
Investing involves risk including the risk of loss of
principal.
The material presented herein is for informational purposes
only. The views expressed herein are subject to change based on
market and other conditions and factors. The opinions expressed
herein reflect general perspectives and information and are not
tailored to specific requirements, circumstances and / or
investment philosophies.
Expiration Date: December 17, 2019©2019 State Street Corporation
- All Rights ReservedState Street Corporation, One Lincoln St,
Boston MA 02111
**offered by a single provider
2350845.1.1.AM.
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version on businesswire.com: https://www.businesswire.com/news/home/20190110005121/en/
Mary Masi-PhelpsCharles River Development+1
781-425-6155MaryMasiPhelps@crd.com
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