AcadiaSoft has completed the successful launch of its MarginSphere Xpress platform, an email messaging service which allows clients to leverage their investment in the firm’s industry-leading MarginSphere electronic messaging service for OTC derivatives by extending communications to counterparties who are currently not connected to the service.
Xpress builds upon and enhances AcadiaSoft’s MarginSphere 2 platform launched in June.
By bringing email-based counterparts on to the service, MarginSphere 2 clients can automate their entire margin call process on AcadiaSoft’s standard, secure and auditable solution. This provides clients with substantial cost savings and allows them to fully capitalize on AcadiaSoft’s end-to-end margining capabilities, including IM reconciliation, margin calculation, disputes management and future TriOptima and DTCC integration, significantly improving their communication & processing capabilities – a key requirement in light of the impending rule changes being introduced under IOSCO.
Xpress uses AcadiaSoft clients’ existing email channel to route and process messages in conjunction with MarginSphere by utilising standard message formats and sophisticated data transformation. The technology allows the sponsoring client to send and digest message responses within their integrated MarginSphere solution.
"We expect Xpress to be a game changer for our clients. With Xpress, clients have the potential to reach virtually 100 per cent of their client base. The MarginSphere community continues to expand rapidly with nearly 125,000 active agreements on the service. Xpress allows our clients to broaden their reach, enhance security and improve communication on a global basis – all factors improving their return on investment,” says David Radley (pictured), Head of Global Sales for AcadiaSoft.
AcadiaSoft recently announced an agreement to link MarginSphere with ICAP TriOptima’s triResolve OTC trade reconciliation service and the Margin Transit Utility (MTU) to be operated by the DTCC-Euroclear GlobalCollateral joint venture. The links will create an open, seamless, end-to-end margin processing hub for non-cleared derivatives.
