Fund Recs and CloudMargin have formed a partnership to provide an integrated cloud-based collateral management and portfolio reconciliation platform to comply with EMIR regulations.
Cloud-based software-as-a-service company FundRecs will provide operational control and a collateral dispute resolution tool, while CloudMargin specialises in collateral management and offers a single user interface and support for end-to-end workflow.
The service is designed for derivatives users, and aims to improve efficiency while minimising risk and meeting the portfolio reconciliation requirements under EMIR.
CloudMargin CEO, Andy Davies, said: “Clients are increasingly rejecting the outdated technology, high prices and slow implementation of traditional financial technology companies. They are looking for state of the art services that simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations.”
“Whether the client’s prime focus is monitoring counterparty risk, optimising balance sheet inventory or reconciling their portfolios, CloudMargin and Fund Recs together provide the solution the market needs and we’re delighted to enter into this partnership.”
Director of Fund Recs, Alan Meany, added: “We are thrilled to formally announce our partnership with CloudMargin. The team at CloudMargin shares our vision for the new breed of financial services software – innovative, value creating and backed up by industry expertise.”
“Just as we are reimagining reconciliations at Fund Recs the team at CloudMargin are leveraging their years of experience in collateral management to create a new, user focused collateral management solution. This partnership will allow us to integrate data on both our platforms to benefit our shared customers by reducing the need to send out similar data sets to multiple vendors.”
.jpg)