Lombard Risk Management, a provider of software solutions for collateralised trading, liquidity and regulatory compliance, has won a new contract with SEI, an operational outsourcer.
SEI will be using Lombard Risk's collateral management software product, Colline, to assist delivery of its new collateral management service for its asset manager clients’ over-the-counter derivative portfolios.
Through Colline, SEI will perform the daily collateral management functions on behalf of its clients, who will also be able to access Colline to gain a consolidated view of daily deliverables, analyse counterparty exposure and run a variety of standard and customised reports.
Using Colline’s automated workflow, SEI and its clients will obtain daily management information around deliverables, communications and approvals.
As a pure internet application, Colline runs securely within a web browser from anywhere in the world without requiring desktop software.
John Wisbey, chief executive of Lombard Risk, says: “Colline helps SEI fulfill their competitive advantage in providing an excellent OTC derivatives counterparty exposure management solution. We are delighted to see SEI join the ranks of many of the world's top financial institutions that rely on Lombard Risk to monitor and manage their risk. Our solutions for management of collateralised trading, liquidity analysis and regulatory compliance are entirely complementary as financial institutions and regulators alike look in ever more similar ways at counterparty risk, liquidity and collateral flows.”
Phil McCabe, senior vice president and solution head, SEI’s investment manager services division, adds: “With our service solution, our clients are able to view and manage their counterparty exposure online without having to invest the time and resources in building or buying their own technology solution. A vital part of this is made possible through the integration of Colline into our hedge fund platform. As a recognised global leader we are very pleased to be working with Lombard Risk on this initiative.”