The solution, ECPOConnect, combines BNY Mellon’s industry leading collateral management service, ECPO, which optimises more than $4 trillion in assets globally, with Pirum’s CollateralConnect platform, a SaaS based solution supporting front-to-back cross-asset margin, collateral and inventory management and optimisation.
The new service introduces a range of capital efficiency benefits by enabling industry participants to reduce liquidity, exposure and funding costs globally. The platform also addresses firms’ need to centralise collateral management across multiple locations and business lines, including securities lending, repo and derivatives.
To support firms in addressing these challenges, ECPOConnect provides firms with the flexibility to utilise their own in-house optimiser or leverage BNY Mellon’s collateral optimiser, ECPO, to support more sophisticated optimisation outcomes such as Liquidity Coverage Ratio (LCR), Net Stable Funding Ratio (NSFR), Risk Weighted Asset (RWA), central counterparty margining, and more.
ECPOConnect will offer near real-time connectivity to enable automation and straight-through processing, intraday management of cross-product margin requirements, on-demand execution of collateral coverage and automated mobilisation of inventory to meet obligations on a global basis.
“We are pleased to bring an innovative optimisation solution to the market that will help our clients improve their profit margins,” said Victor O’Laughlen, Digital Business Leader at BNY Mellon. “We have already put this powerful tool to work using real client data, and the results have clearly shown major efficiencies for clients navigating an increasingly-connected marketplace.”
Phil Morgan, CEO at Pirum, said, “ECPOConnect is an innovative solution offering industry participants a flexible set of optimisation solutions to fit their needs. Combining Pirum’s capabilities with ECPO, clients gain immediate benefits through more efficient funding, liquidity and capital management.”
Pirum’s multi-tenanted SaaS platform enables 180 financial market participants to process $3.5 trillion of trades and collateral daily
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