CME Group and CloudMargin have collaborated to offer CME Clearing and CME Clearing Europe customers the first cloud-based software service that integrates and automates the management of collateral in one place.
This allows market participants access to a consolidated view across their complete collateral inventory that they can utilise for both cleared and non-cleared derivatives transactions at any given time.
"We are excited to announce CME Group's collaboration with CloudMargin. The cloud-based collateral management service will be of particular relevance for market participants who want to fulfill all of their operational and regulatory requirements efficiently," says Sunil Cutinho, President, CME Clearing. "Our collaboration with CloudMargin will ensure that collateral management becomes even more accessible and robust."
The tool handles complex collateral requirements with multiple counterparties. It also provides automated connectivity to global custodians, banks, clearing brokers and clearing houses in order to manage collateral across all asset types and instruments.
"Our relationship with CME Group will immediately benefit all current and future members of the CloudMargin community," says Steve Husk, CEO of CloudMargin. "Where, through regulation, activity is migrating away from non-cleared transactions to central clearing, our expanded functionality in both areas ensures we remain able to support all our clients' end- to-end collateral management requirements in our fully automated, light touch cloud-based model."