VERMEG partners with Cassini Systems to aid IM requirements
06 January 2022 US
Image: Sergey_Nivens/stock.adobe.com
VERMEG announces partnership with Cassini Systems to support firms facing Initial Margin (IM) requirements.
The collaboration will aid financial institutions with uncleared over-the-counter (OTC) derivatives, exchange-traded derivatives and prime brokerage.
VERMEG has integrated Cassini鈥檚 margin analytics platform into its COLLINE collateral suite, allowing for cost efficiencies and helping to meet requirements of the Uncleared Margin Rules (UMR).
It will also provide clients with a comprehensive workflow for managing intraday and end-of-day collateral requirements centrally within COLLINE鈥檚 standardised workflow, inclusive of collateral optimisation, according to the firm.
The integration includes Cassini鈥檚 Standard Initial Margin Model and Standard Approach calculation service at pre and post-trade, as well as margin methodologies of exchanges, central counterparties (CCPs) and prime brokers, providing transparency across asset classes.
Speaking on the announcement, Liam Huxley, CEO of Cassini Systems, says: 鈥淎s UMR reaches phase 6 and impacts the full range of buy-side firms, the need for a complete and flexible, front-to-back SIMM calculation, including the generation of sensitivities, is critical. The time for these firms to prepare is now.鈥�
Wassel Dammak, head of collateral solutions strategy, adds: 鈥淲e are excited to partner up with Cassini to help clients more efficiently manage their margin by leveraging analytics at different stages of the collateral workflows. By September 2022, firms will be impacted globally by UMR, and Cassini can help those firms. The combination of COLLINE鈥檚 process automation with Cassini鈥檚 margin analytics will enable clients to leverage a one-stop-shop solution to manage business and regulatory requirements.鈥�
The collaboration will aid financial institutions with uncleared over-the-counter (OTC) derivatives, exchange-traded derivatives and prime brokerage.
VERMEG has integrated Cassini鈥檚 margin analytics platform into its COLLINE collateral suite, allowing for cost efficiencies and helping to meet requirements of the Uncleared Margin Rules (UMR).
It will also provide clients with a comprehensive workflow for managing intraday and end-of-day collateral requirements centrally within COLLINE鈥檚 standardised workflow, inclusive of collateral optimisation, according to the firm.
The integration includes Cassini鈥檚 Standard Initial Margin Model and Standard Approach calculation service at pre and post-trade, as well as margin methodologies of exchanges, central counterparties (CCPs) and prime brokers, providing transparency across asset classes.
Speaking on the announcement, Liam Huxley, CEO of Cassini Systems, says: 鈥淎s UMR reaches phase 6 and impacts the full range of buy-side firms, the need for a complete and flexible, front-to-back SIMM calculation, including the generation of sensitivities, is critical. The time for these firms to prepare is now.鈥�
Wassel Dammak, head of collateral solutions strategy, adds: 鈥淲e are excited to partner up with Cassini to help clients more efficiently manage their margin by leveraging analytics at different stages of the collateral workflows. By September 2022, firms will be impacted globally by UMR, and Cassini can help those firms. The combination of COLLINE鈥檚 process automation with Cassini鈥檚 margin analytics will enable clients to leverage a one-stop-shop solution to manage business and regulatory requirements.鈥�
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