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Euroclear partners with Pirum on tri-party securities lending

Link set to improve straight through processing and reporting

European post-trade giant Euroclear has boosted its tri-party securities lending service after connecting with tech firm Pirum’s collateral management tool.

The new link allows mutual clients of the pair to take advantage of Pirum's service suite while using the Euroclear's Collateral Highway, a platform sourcing and mobilising collateral across borders and time zones.

As a result, straight through processing is improved along with increasing integration, enhancing reporting capability and streamlined reconciliations. 

Tri-party is a transaction for which post-trade processing - collateral selection, payment and settlement, custody and management during the life of the transaction - is outsourced by the parties to a third-party agent.

Other agents include Clearstream, BNY Mellon and JP Morgan.

"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 tri-party vendors, as well as for their bilateral business,” said Pirum chief executive Rajen Sheth.

Euroclear's Olivier Grimonpont, who is global head of collateral management and securities lending at the firm, described the partnership as a "valuable addition" to Euroclear's Collateral Highway.

“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," he added.





 

This content is provided by Euromoney Seminars for informational purposes only, and it reflects the market and industry conditions and presenter’s opinions and affiliations available at the time of the presentation.