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Cloud-based reconciliation software provider Fund Recs has partnered with cloud-based collateral management software provider CloudMargin to offer a cloud-based collateral management and portfolio reconciliation platform, officials say.
Fund Recs will add its operational control and key collateral dispute resolution tool of portfolio reconciliations — a requirement under the European Market Infrastructure Regulation (EMIR) – into a single user interface with CloudMargin, officials say.
“This partnership meets the needs of derivatives users looking to improve processing efficiency, minimize risk and meet the regulatory requirement to reconcile portfolios mandated by EMIR,” a company statement says.
“Clients are increasingly rejecting the outdated technology, high prices and slow implementation of traditional financial technology companies,” says Andy Davies, CEO of CloudMargin, in a statement. Firms are looking for services that “simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations,” Davies adds.
The combined effort will target monitoring counterparty risk, optimizing balance sheet inventory and reconciling portfolios, Davies says.
Need a Reprint?- Read More:
- CloudMargin,
- EMIR,
- Fund Recs,
- collateral management
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