ICAP plc (IAP.L) has fortified its investment in AcadiaSoft, Inc, a provider of electronic margining for over-the-counter (OTC) derivatives, according to a recent ICAP statement.
The latest investment from ICAP is in parallel to DTCC, Euroclear and four additional banks, which now brings the total to over thirteen individual investing institutions.
AcadiaSoft specializes in a variety of solutions, including risk management and compliance measures – its paramount offering is its MarginSphere service, allowing market participants to communicate information on exposures, commitments and adjustments between counterparties in a transparent manner.
In addition to the investment, ICAP’s TriOptima has also embarked on a commercial agreement with AcadiaSoft and DTCC-Euroclear Global Collateral to link AcadiaSoft’s MarginSphere service with TriOptima’s triResolve OTC trade reconciliation service. This will also entail the integration with the Margin Transit Utility, as operated by the DTCC-Euroclear joint venture. The impetus behind this move is the projected creation of an open, streamlined end-to-end collateral processing hub for non-cleared derivatives.
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According to Michael Spencer, Group Chief Executive Officer of ICAP, in a recent statement on the latest investment round, “This cooperation between AcadiaSoft, TriOptima, DTCC-Euroclear and our partner banks is very exciting and we look forward to working with the other shareholders to create a true industry solution.”
“We will to combine TriOptima’s expertise through its triResolve portfolio matching service with AcadiaSoft’s margin messaging platform which will facilitate regulatory compliance and a reduction in operational costs and risks,” he added.
ICAP recently made headlines after it reported its EBS electronic foreign exchange (FX) volumes for the month ending June 2015, which showed a healthy growth over May’s figures.
ICAP is a worldwide markets operator and provider of post-trade risk mitigation and information services. The UK-based voice and electronic dealer broker also services a global base of institutional clients.