Collaboration with Pirum Systems to offer clients increased collateral efficiency through real-time STP connectivity
Clearstream and the securities finance automation provider Pirum Systems are cooperating to provide mutual clients with real-time exposure visibility and an automated Triparty Required Value (RQV) solution for their securities financing activity. Clients can now view their Clearstream collateral constituents and values in real time in conjunction with underlying lending activity to manage their exposure levels more accurately. The partnership will also automate the currently manual RQV submission service, allowing clients’ collateral requirements to be automatically and securely submitted at any desired frequency.
Rajen Sheth, CEO of Pirum Systems, commented: "We are excited by the addition of Clearstream to our connectivity hub. This partnership reflects our commitment to improving interoperability, automation and connectivity for market participants”.
Marcel Naas, Head of Global Funding and Financing at Deutsche Börse Group, stated: “With this partnership we are continuing to broaden our global collateral network. The collaboration with Pirum will enable our clients to further increase their collateral efficiency and accuracy through real-time STP connectivity.”
Pirum now connects its clients to all four triparty agents in real-time to provide a centralised solution for both triparty and bilateral exposure management. Pirum’s RQV service continues to grow rapidly and currently manages $850bn of daily exposure for clients.
Clients leveraging Pirum can not only access Clearstream’s tri-party collateral management services, but will also be able to make use of Eurex Clearing’s Securities Lending CCP. This gives them the unique opportunity to leverage a single collateral pool approach and re-use netting opportunities available through Deutsche Börse’s Global Funding and Financing product offering.
As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 56 domestic markets worldwide. With 13 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities and part of Deutsche Börse Group.
Pirum offers a secure, centralised automation and connectivity hub for global securities finance transactions, enabling complete automation of the post-trade and collateral lifecycle. The company’s position within the Securities Financing market, enables clients to seamlessly access counterparts, triparty agents, trading venues, market data companies & CCPs as well ensuring regulatory adherence. Pirum delivers highly innovative and flexible services, tailored to fully support the industry's complexities and evolving business processes.