SmartStream Technologies, which characterizes itself as a financial transaction lifecycle management solutions provider, reports that it has acquired “assets related to software, sales and support of IBM’s Algorithmics collateral solution,” officials say.
SmartStream officials add that its move is “a strategic deal to enhance SmartStream’s existing suite of solutions” for the end-to-end post trade lifecycle. (IBM acquired Algorithmics in 2011 for $380.2 million.)
Algorithmics Collateral has been rebranded as TLM Collateral Management, and continues to offer “collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, both large and small,” SmartStream officials say.
The offering will help clients “beyond a standalone operation, through the integration of collateral management with SmartStream’s real-time operational risk control framework for post-trade processing, which includes solutions and services for cash and intraday liquidity management, corporate actions, reconciliations, data management and exception management,” officials say.
“This acquisition marks another significant step for the company and our customers,” Philippe Chambadal, SmartStream CEO, says in the statement.
As funding and counterparty risk management have become a critical focus for customers, TLM Collateral Management will offer them “a complete picture across the front-and back-office and a centralized view of a firm’s inventory and exposure, enabling greater transparency of funding and collateral needs – which ultimately underpins trading.” Chambadal adds.
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