London
13 March 2017
Reporter: Drew Nicol

CloudMargin bring Nasdaq Clearing on board collateral platform


CloudMargin has secured Nasdaq Clearing as a user of its web-based collateral and margin management solution.

According to CloudMargin, the relationship “will significantly enhance and streamline Nasdaq Clearing’s collateral-related communications, including issuance of the most up-to-date eligibility schedules, reports, messages and instructions”.

Lee McCormack, head of strategy at CloudMargin, said: “We believe this type of interoperability will set a standard for the industry going forward. CloudMargin’s unique ability to offer a consolidated view and management of collateral needs is increasingly important as the volumes of margin movements rocket for both cleared and uncleared trades.”

“Nasdaq is doing a great service to its market users by facilitating this capability, with benefits for sell-side and buy-side institutions and clearing firms alike.”

Fredrik Ekström, Nasdaq’s head of Nordic fixed income and European clearing, said: “Innovative and capital-efficient solutions are at the heart of what we do at Nasdaq Clearing. CloudMargin’s effective and seamless web-based solution enables our clients to manage margin collateral across clearinghouses and bilateral counterparts.”

“Nasdaq Clearing believes that distribution of risk is a key factor in protecting the financial sector from systemic risks. The CloudMargin offering supports such infrastructure in an efficient way.”

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