Sell-Side Technology Awards 2016:Best Sell-Side Newcomer (Vendor or Product) — AcadiaSoft
Last year's winner, Symphony, has seen wide industry adoption.
This year's winner, Norwell, Mass.-based AcadiaSoft, has continued that trend with its Collateral Hub solution, addressing a number of acute challenges around heretofore complex collateral management functions.
First unveiled in July 2015, the Collateral Hub is the fruition of AcadiaSoft’s initiative to tackle upcoming collateral regulations in the over-the-counter (OTC) derivatives space due to come into effect in September of this year, which will mean substantial changes to the margin calculation process, creating an increase in margin activity and collateral movements. The vendor believes that the challenges of new collateral requirements could not be overcome through a fragmented approach of proprietary, manual and email-based margin processes, and instead set out to create a single, unified industry-standard that provides a common framework for margin calculations, reconciliation and communication.
The Collateral Hub, launched with the support of 28 banks, provides non-cleared OTC derivative market participants with a central margining platform that standardizes and integrates margin calculations, reconciliations, communication and disputes management for sell-side firms and their counterparties. By providing a common framework with a standard margin calculation methodology and the ability to compare necessary inputs that include risk factor sensitivities, the Collateral Hub enables participants to identify and minimize disputes at the input level before issuing margin calls. Collateral Hub also delivers operational efficiencies and improved risk mitigation processes by replacing phone and email communications with electronic, automated, straight-through processing.
AcadiaSoft planned, developed and released Collateral Hub in the space of six months, and is part of a series of products released by the vendor to facilitate compliance with non-cleared margin rules rolled out by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO). In June last year, the firm rolled out its electronic margining platform for OTC derivatives, MarginSphere2, with a further messaging upgrade, MarginExpress, added two months later.
The release of Collateral Hub is also the first phase in linking AcadiaSoft’s platform with OTC post-trade services provider TriOptima’s triResolve service, designed to enable market participants to calculate and reach agreement for exchanging initial and variation margin amounts, identify and reconcile differences, and prevent disputes.
The Collateral Hub, launched with the support of 28 banks, provides non-cleared OTC derivative market participants with a central margining platform that standardizes and integrates margin calculations, reconciliations, communication and disputes management for sell-side firms and their counterparties.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024: All the winners
WatersTechnology readers voted to determine the winners in 35 technology and data categories comprising this year’s virtual Waters Rankings.
Waters Rankings 2024: Best reference data provider—Association of National Numbering Agencies (ANNA)
Product/service: ANNA Service Bureau (ASB)
Waters Rankings 2024: Best corporate actions solution provider—SIX
Product/service: Global Corporate Actions service
Waters Rankings 2024: Best cybersecurity provider—AI Risk
Product/service: AIR-GPT platform
Waters Rankings 2024: Best transaction-cost analysis (TCA) system provider (highly commended)—S&P Global Market Intelligence
S&P Global Market Intelligence’s Transaction Cost Analysis tool is highly commended in the best transaction-cost analysis (TCA) system provider category of the 2024 Waters Rankings.
Waters Rankings 2024: Best reporting system provider—S&P Global Market Intelligence Cappitech
Product/service: Cappitech
Waters Rankings 2024: Best trading floor communication system provider—Cloud9
Cloud9 wins the best trading floor communication system provider category in the 2024 Waters Rankings.