Wematch and Pirum Systems to extend partnership for CSDR
23 September 2021 UK
Image: varflolomey/stock.adobe.com
Wematch and Pirum will extend their partnership to develop a solution to assist clients with avoiding Central 厙惇勛圖 Depositories Regulation (CSDR) failures.
After partnering in June 2020 on a front-to-back securities lending offering, Wematch clients using Pirums new Trade Risk Manager service can now elect to cover failing trades via automated connectivity to the Wematch platform.
Wematch has developed a section for CSDR that allows same-day settlement and will offer increased connectivity and communication with the market in a centralised platform. It will also allow institutions to address potential fines and penalties.
David Raccat, co-founder at Wematch, says: This new connectivity protocol with Pirum cements our partnership towards a more streamlined solution for our mutual clients. This new solution will bring significant contribution to a more efficient and innovative securities finance market.
The CSDR regulation has enforced enhancement for post-trade services. At Wematch we are committed to innovation and we have come up with a front-office solution to address this new regulation in partnership with Pirum.
Robert Frost, head of product at Pirum, adds: We have been working closely with our clients to identify challenges and improve existing processes. CSDR has presented some new challenges and magnified the impact of some existing sub-optimal processes that we have been asked to explore solutions for.
After partnering in June 2020 on a front-to-back securities lending offering, Wematch clients using Pirums new Trade Risk Manager service can now elect to cover failing trades via automated connectivity to the Wematch platform.
Wematch has developed a section for CSDR that allows same-day settlement and will offer increased connectivity and communication with the market in a centralised platform. It will also allow institutions to address potential fines and penalties.
David Raccat, co-founder at Wematch, says: This new connectivity protocol with Pirum cements our partnership towards a more streamlined solution for our mutual clients. This new solution will bring significant contribution to a more efficient and innovative securities finance market.
The CSDR regulation has enforced enhancement for post-trade services. At Wematch we are committed to innovation and we have come up with a front-office solution to address this new regulation in partnership with Pirum.
Robert Frost, head of product at Pirum, adds: We have been working closely with our clients to identify challenges and improve existing processes. CSDR has presented some new challenges and magnified the impact of some existing sub-optimal processes that we have been asked to explore solutions for.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times