14 October 2015
Reporter: Becky Butcher

SmartStream upgrades TLM Collateral Management

SmartStream has launched a TLM Collateral Management adaptor to provide a full lifecycle of trading messages for the non-clearing over-the-counter (OTC) derivatives market.

The adaptor to TLM Collateral Management, which SmartStream acquired from IBM in February, will integrate the system with Arcadia Soft’s Margin Sphere clearing services.

SmartStream is providing full coverage of the lifecycle messages and events supported under straight-through processing, reducing the need for ad hoc manual activities at other terminals.

The adaptor is delivered as part of SmartStream’s latest release of TLM Collateral Management v5.2.10.

SmartStream has developed the adaptor is response to International Organization of Securities Commissions (IOSCO) and Basel Committee risk mitigation standards for the non-clearing OTC derivatives market, which are requiring trading desks and collateral managers to understand which assets should be preserved for use as collateral and which, potentially, are available for trading.

Darryl Twiggs, head of product management at SmartStream, commented: “Volumes in non-clearing OTC are predicted to rise by a factor of ten in 2016 following the implementation of new IOSCO regulations for intra-day margin call calculations.”

“I am delighted that we have been able to use our TLM technologies to deliver the adaptor quickly. This brings collateral management closer to our other solutions in portfolio and margin settlement reconciliations and intra-day funding liquidity management.”

He added: “The challenges further increase when firms are engaged in derivatives activity through a variety of legal entities in different national jurisdictions; we are speaking to clients who are seeking to mitigate risk in derivatives for cross-border transactions.”

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