Geneva-based Banque Pictet & Cie has launched its new collateral management solution from software solutions provider Calypso Technology.
The system will consolidate the bank’s collateral activities to one platform across various businesses, creating a centralised management system that can aggregate collateral pools from its core system for processing margin cells.
It will be implemented to manage both internal collateral and client collateral.
As of December 2014, Pictet has assets under management and custody totalling about €435 billion, and customers including institutional asset managers, funds, family offices and other banks.
Implementing the new system is part of a move away from manual management systems, and represents a more scalable solution for growing business and associated customer agreements.
It will also help Pictet to meet new regulations that require initial margining for listed and OTC contracts.
Calypso was reportedly selected for its ability to meet the functional requirements of the bank, as well as for its ability to connect core banking systems to key downstream systems such as confirmations and messaging.
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