Financial services technology providers Fund Recs and CloudMargin are offering the first fully integrated, cloud-based collateral management and portfolio reconciliation platform.
This partnership meets the needs of derivatives users looking to improve processing efficiency, minimise risk and meet the regulatory requirement to reconcile portfolios mandated by EMIR.
Fund Recs adds the essential operational control and key collateral dispute resolution tool of portfolio reconciliations, a requirement for regulatory compliance under EMIR, into a single user interface with CloudMargin. CloudMargin offers clients optimised end-to-end collateral management workflow for the full spectrum of margined products such as OTC bilateral and cleared derivatives, futures and options, repo and reinsurance.
Andy Davies, CEO of CloudMargin, says: “Clients are increasingly rejecting the outdated technology, high prices and slow implementation of traditional financial technology companies. They are looking for state of the art services that simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations. Whether the client’s prime focus is monitoring counterparty risk, optimising balance sheet inventory or reconciling their portfolios, CloudMargin and Fund Recs together provide the solution the market needs and we’re delighted to enter into this partnership.”
Alan Meaney, Director of Fund Recs, says: “We are thrilled to formally announce our partnership with CloudMargin. The team at CloudMargin shares our vision for the new breed of financial services software – innovative, value creating and backed up by industry expertise. Just as we are reimagining reconciliations at Fund Recs the team at CloudMargin are leveraging their years of experience in Collateral Management to create a new, user focused Collateral Management solution. This partnership will allow us to integrate data on both our platforms to benefit our shared customers by reducing the need to send out similar data sets to multiple vendors.”
