Investment manager Brandywine Global has selected the Apex Collateral solution from SunGard Financial Systems to “help support its growing collateral management business,” according to a company statement.
Some of Brandywine’s most pressing requirements when choosing the solutions were “the ability to comply with increased regulatory demands and improve the client experience by reducing counterparty risk,” the statement says.
Brandywine previously relied on manual workflows for those functions, but turned to SunGard in order to automate its collateral management process and maximize operational efficiencies. APEX Collateral will help Brandywine grow its business and “comply with pending regulations such as the BCBS/IOSCO rules around bilateral traded derivatives as well as requirements for the clearing of FX forwards,” the statement says.
Apex Collateral consists of a suite of tools tailored specifically to support buy-side collateral management, officials say. It is a single platform that is able to provide a consolidated view of global inventory, and uses proprietary algorithms to help allocate collateral efficiently. Brandywine will be using the solution in areas like “umbrella agreement structures, consolidated broker level calls and direct connection with SWIFT,” the statement says.
“Brandywine Global is committed to implementing state-of-the-art technologies that help us increase service levels to give our clients the same capabilities as the largest firms on Wall Street,” says Mark Solomon, vice president of complex instrument operations at Brandywine Global, in a prepared statement. Apex Collateral will help the firm “improve our client service, build and support new businesses and enhance our regulatory reporting capabilities,” Solomon says.
Brandywine is affiliated with Legg Mason, one of the world’s largest asset management firms.
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