Euroclear strikes collateral management deal

Euroclear has enhanced its triparty securities lending service by connecting with Pirum System’s collateral management tool.

Under the new partnership, mutual clients of Pirum and Euroclear will be able to access Pirum service suite while simultaneously using Euroclear’s collateral highway to outsource their collateral management.

The new partnership aims to improve processing, increase integration, enhance reporting capability and streamline reconciliations.

“We are excited to be the first post-trade vendor in the securities financing space to be able to offer a fully real-time solution to our clients for three of the key Triparty vendors, as well as for their bilateral business,” said Pirum CEO Rajen Sheth.

“The addition of Euroclear to our existing collateral management platform shows our continued commitment to building innovative solutions that provide tangible benefits and return on investment for our clients.”

Olivier Grimonpont, global head of collateral management and securities lending, Euroclear added: “This new partnership is a valuable addition to Euroclear’s Collateral Highway, our open platform aimed at allowing clients to seamlessly manage their collateral exposures.

“Our link with Pirum will enable clients to efficiently manage their Securities Lending exposures on the Collateral Highway while fully leveraging their their existing post-trade solution.”