Global Derivatives marketplace CME Group has announced that it is collaborating with CloudMargin, a collateral management provider, to offer CME Clearing and CME Clearing Europe customers the first cloud-based software service which integrates and automates the management of collateral in one place.
The collaboration will ensure that collateral management becomes even more accessible and robust.
The news comes just over a month after CME Group announced that it was joining forces with Crypto Facilities to launch Bitcoin Reference Rate and Real-Time Index products, which was reported by Finance Magnates.
With its latest collaboration, market participants will now have access to a consolidated view across their complete collateral inventory that they can utilise for both cleared and non-cleared derivatives transactions at any given point in time.
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Commenting on the collaboration, Sunil Cutinho, president of CME Clearing, said: “The cloud-based collateral management service will be of particular relevance for market participants who want to fulfill all of their operational and regulatory requirements efficiently. Our collaboration with CloudMargin will ensure that collateral management becomes even more accessible and robust.”
The tool handles complex collateral requirements with multiple counterparties. It also provides automated connectivity to global custodians, banks, clearing brokers and clearing houses in order to manage collateral across all asset types and instruments.
Steve Husk, CEO of CloudMargin, added: “Our relationship with CME Group will immediately benefit all current and future members of the CloudMargin community. Where, through regulation, activity is migrating away from non-cleared transactions to central clearing, our expanded functionality in both areas ensures we remain able to support all our clients’ end to end collateral management requirements in our fully automated, light touch cloud-based model.”