ICAP has increased its investment in AcadiaSoft, an electronic margining provider of over-the-counter (OTC) derivatives.
The investment is a joint venture between markets operator and post-trade risk mitigation service provider ICAP, DTCC and Euroclear, along with four other banks and six additional investors.
ICAP’s TriOptima has also entered in to agreements with AcadiaSoft, DTCC and Euroclear in plans to link AcadiaSoft’s messaging service, MarginSphere 2 with TriOptima’s ITC trade reconciliation service and DTCC and Euroclear’s joint Margin Transit Utility.
This network intends to create a smooth end-to-end collateral processing hub for non-cleared derivatives.
Michael Spencer, group CEO of ICAP, said: “This cooperation between AcadiaSoft, TriOptima, DTCC-Euroclear and our partner banks is very exciting and we look forward to working with the other shareholders to create a true industry solution.”
“We will combine TriOptima’s expertise through its triResolve portfolio matching service with AcadiaSoft’s margin messaging platform which will facilitate regulatory compliance and a reduction in operational costs and risks.”
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