NEW YORK, May 7, 2019 /PRNewswire/ -- Buy-side derivatives
market participants are now able to fully outsource their entire
non-cleared margin workflow, via the market's first end-to-end
collateral solution developed by BNY Mellon.
Going forward, clients can access AcadiaSoft's Initial Margin
(IM) Risk Suite of low-touch tools for margin calculation,
reconciliation and messaging as part of BNY Mellon's collateral
service offering.
This collaboration, in conjunction with BNY Mellon's existing
bilateral margin capabilities from post-trade and settlement
through to collateral segregation and ongoing position monitoring,
enables clients to meet their obligations under Phases 4 and 5 of
the non-cleared margin rules, all in one place.
Under the rules, counterparties are required to calculate IM on
non-cleared derivatives trades. Depending on the portfolio in
question, these calculations may be numerous and complex, and they
are required to be computed daily.
AcadiaSoft acts as a central repository for calculating IM,
enabling market participants to use the utility as a single point
of contact through which to conduct their messaging and
calculations.
While already utilizing AcadiaSoft for margin messaging, BNY
Mellon now becomes the first collateral outsource provider to
support the IM calculation and reconciliation needs of clients that
fall within the scope of the non-cleared margin rules.
"Our aim is to streamline the collateral workflow for clients,
making it easier for them to meet their regulatory requirements.
Adding the AcadiaSoft functionality means they'll only need to
share their derivatives portfolio with us once daily: thereafter,
we'll calculate their IM and instruct the movement of the
collateral required accordingly," explains Jonathan Spirgel, Global Head of Liquidity and
Segregation Services at BNY Mellon.
"We're thrilled to be able to offer buy-side derivatives market
participants access to AcadiaSoft's IM calculation and
reconciliation services for the very first time through BNY
Mellon," says Chris Walsh, CEO of
AcadiaSoft.
BNY Mellon provides comprehensive collateral management for
clients, including a range of segregation options, collateral
administration, collateral transformation and other services.
Click here to learn more about the non-cleared margin rules
and download BNY Mellon's in-depth guide to the new
requirements.
ABOUT BNY MELLON
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment life cycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment
management and investment services in 35 countries. As of
March 31, 2019, BNY Mellon had
$34.5 trillion in assets under
custody and/or administration, and $1.8
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
ABOUT ACADIASOFT
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 a 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.
Contacts:
Peter Madigan
+1 212 815 2308
peter.madigan@bnymellon.com
Laura Craft
+44 20 3954 0196
laura.craft@acadiasoft.com
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SOURCE BNY Mellon