All counterparty groups covered by Phase 4 of the Initial Margin (IM) rollout under the Uncleared Margin Rules, including four new in-scope buy-side firms, have now been successfully onboarded onto AcadiaPlus.
AcadiaPlus is a standard, open communications platform that provides the sell-side, the buy-side and fund administrators with specialist applications and a third-party partner ecosystem that enables straight-through-processing of the entire risk-mitigation lifecycle. AcadiaPlus encompasses the company’s flagship services, including Initial Margin Exposure Manager (IMEM) and Margin Manager, and serves as a central source of standardised data for the industry. AcadiaSoft has now integrated all counterparty groups covered by IM Phases 1 through 4 onto its platform.
“We’ve been successful in building the standard platform that all in-scope firms to date are using,” says AcadiaSoft CEO Chris Walsh (pictured). “As a result, Phase 5 and 6 firms will now be able to leverage what we’ve already accomplished with AcadiaPlus to get maximum benefit at minimum cost.”
A total of 19 counterparty groups encompassing approximately 1,050 new agreements are in-scope for Phase 4 of the regulatory framework established by the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO). All firms are using Margin Manager for the issuance and agreement of regulatory IM calls and IMEM for calculation and reconciliation of IM exposure using either the ISDA SIMM or schedule method.
“AcadiaSoft is a vital resource for in-scope firms,” adds Mark Demo, Head of Industry and Strategy at AcadiaSoft. “We hold regular working group meetings for IM Phase 5 and Phase 6 firms to share lessons learned from the earlier phases and to work towards IM compliance as a community. There is no reason for these firms to go at this alone.”
