State Street Collateral+ Delivers New Analytics and Optimization Capabilities in Partnership with Cassini Systems
November 22 2021 - 7:30AM
Business Wire
State Street Corporation (NYSE:STT) announced today it has added
market leading pre-and post-trade optimization and margin analytics
capabilities to its Collateral+ service. In partnership with
Cassini Systems, the leading provider of pre- and post-trade margin
and collateral analytics for derivatives market participants,
Collateral+ now offers an integrated, modular approach to
optimization, which addresses collateral efficiency from multiple
angles.
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First, it integrates collateral and funding impact into the
front-office decision strategy ahead of the trades being placed.
Through the addition of Cassini’s technology, Collateral+ can
optimize margin and carry cost impact, providing the best trade
route by identifying all possible ways to execute and clear the
trade and highlighting the lowest cost. Collateral+ can also offer
margin optimization as a post-trade utility with tools such as
novation and compression to lower margin and funding
requirements.
Another module provides true collateral inventory optimization
based on clients’ collateral funding costs in combination with
costs such as clearing fees. This optimization highlights the
optimal placement of collateral and the lowest transaction cost
routes. Through the bank’s liquidity offerings, including Sponsored
Repo and the newly launched Peer-to-Peer Repo, clients can leverage
incremental cash and optimized securities revenues in order to
effectively execute and grow their investments.
“As an industry, we have a long-held ambition to deliver
collateral impacts and trade opportunities to the decision makers
in the front office. Our work with Cassini to develop Collateral+
to provide the intelligence and pre-trade knowledge to the desk is
enabling State Street to deliver on this,” said Sam Edwards, head
of Collateral+ in APAC for State Street. “We are evolving with our
clients and developing end-to-end tools and liquidity products in
order to allow our partners to focus on their core strengths.”
Today’s announcement builds on the momentum of State Street’s
Collateral+ business, as the platform recently became operational
with Acadia’s Initial Margin Exposure Manager (IMEM) and DTCC’s
Margin Transit Utility (MTU), which simplifies the transfer of
collateral among market participants and allows clients to more
easily comply with Uncleared Margin Rules (UMR) guidelines.
Cassini Systems CEO Liam Huxley said: “We are excited to partner
with State Street on further enhancing the Collateral+ offering
with optimization capabilities and analytics that can bring its
clients substantial cost savings and a true understanding of
front-to-back costs across the entire lifecycle of a trade. The
ability to apply these analytics to the Initial Margin requirements
of UMR is a powerful way to identify optimal counterparties and
manage thresholds strategically with each and every trading
decision.”
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 $43.3 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of September 30, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2021 includes
approximately $60 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.
About Cassini Systems
Founded in 2014, Cassini Systems offers an award-winning
derivatives margin analytical platform that provides the industry’s
only front-to-back margin and cost analysis across the entire
lifecycle of a trade. Cassini users can calculate any margin on any
cleared or uncleared derivatives asset; analyze drivers and
movement in margin exposure; reduce Initial Margin levels; and
maximize margin efficiency with the firm’s industry leading,
advanced algorithms. Cassini services have a proven track record of
enhancing portfolio returns at every point in the daily business
cycle, empowering traders and portfolio managers with the ability
to analyze instantly in the pre-trade stage the all-in, lifetime
cost of a transaction. Top-tier hedge funds, asset managers and
Tier 1 banks rely on Cassini for powerful, flexible, automated
tools to manage their portfolios of over-the-counter and
exchange-traded derivatives products. For more information, visit
www.cassinisystems.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211122006151/en/
Media Contact: State Street Brendan Paul
Bpaul2@statestreet.com +1 401-644-9182 Media Contact:
Cassini Systems Ellen Resnick eresnick@crystalclearPR.com
+1-773-929-9292 +1-312-399-9295 (mobile)
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