Pirum launches RepoConnect service
03 February 2022 UK
Image: natali_mis/stock.adobe.com
Pirum has launched its RepoConnect product for the US and international markets.
The newly released product is a repo and buy-sell back real-time matching, reconciliation and lifecycle automation service.
It allows clients to match all key trade economics and lifecycle events with 100 per cent of their counterparties on both the buy and sell-side, according to Pirum.
Additionally, RepoConnect allows clients to process pair-offs, coupon claims and other lifecycle events within the same, centralised platform.
In tandem with reducing settlement costs and penalties through trade matching and reconciliation, RepoConnect enhances settlement efficiency through Pirum鈥檚 network of triparty and custodial connectivity.
Speaking on the announcement, Robert Frost, global head of product at Pirum, comments: 鈥淲e are excited to launch our RepoConnect service, which will help repo participants match and agree their repos and process lifecycle events accurately and efficiently.
鈥淲ith the advent of settlement fail penalties under the Central 网爆吃瓜 Depositories Regulation, ensuring contract changes are in line and related movements agreed will only become more important. RepoConnect is a key product that we are launching as part of our FutureTech Initiative as we continue to automate processes across the securities finance trade lifecycle鈥�.
The newly released product is a repo and buy-sell back real-time matching, reconciliation and lifecycle automation service.
It allows clients to match all key trade economics and lifecycle events with 100 per cent of their counterparties on both the buy and sell-side, according to Pirum.
Additionally, RepoConnect allows clients to process pair-offs, coupon claims and other lifecycle events within the same, centralised platform.
In tandem with reducing settlement costs and penalties through trade matching and reconciliation, RepoConnect enhances settlement efficiency through Pirum鈥檚 network of triparty and custodial connectivity.
Speaking on the announcement, Robert Frost, global head of product at Pirum, comments: 鈥淲e are excited to launch our RepoConnect service, which will help repo participants match and agree their repos and process lifecycle events accurately and efficiently.
鈥淲ith the advent of settlement fail penalties under the Central 网爆吃瓜 Depositories Regulation, ensuring contract changes are in line and related movements agreed will only become more important. RepoConnect is a key product that we are launching as part of our FutureTech Initiative as we continue to automate processes across the securities finance trade lifecycle鈥�.
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