Calypso extends AcadiaSoft relationship with Initial Margin Exposure Manager to complete end-to-end integrated UMR ecosystem required by Phase 5 and 6 firms
- Integration with AcadiaSoft market-standard platform
- Seamless connectivity across Calypso end-to-end UMR ecosystem
- Reduced operational risk
Calypso Technology Inc., a leading provider of cross-asset front-to-back technology solutions for financial markets, has signed an agreement with AcadiaSoft, the leading industry provider of risk and collateral management services for the non-cleared derivatives community, to provide an interface to its initial margin calculation and reconciliation platform, Initial Margin Exposure Manager (IMEM), within the Calypso Uncleared Margin Rules (UMR) solution. The resulting fully integrated end-to-end UMR ecosystem will enable Phase 5 and 6 firms to minimize operational risk and lower Total Cost of Ownership (TCO).
Calypso offers clients margin solutions for cleared and uncleared trades, combining a simple path to compliance with the additional optimization tools necessary to convert a compliance exercise into a business opportunity.
Calypso has been providing margin solutions to clients since 2010, when the company started working with leading CCPs on their OTC Clearing offering. Calypso brings significant UMR experience gained from supporting firms falling into scope in Phases 1-4.
With the addition of this interface to AcadiaSoft’s IMEM, Calypso clients will benefit from a simple, end-to-end solution, that does not rely on a ‘building blocks’ approach. IMEM is the industry standard for calculation and reconciliation of regulatory initial margin and is used by all in-scope firms in Phases 1-4.
“Calypso is aware of the pressure facing financial institutions from the constantly changing regulatory requirements – a pressure that has been further exacerbated for firms coming in-scope in phases 5 and 6 of UMR by the current Covid19 pandemic. We are fully committed to helping these firms to meet compliance requirements. With this agreement, we are adding an interface to the AcadiaSoft IMEM market-standard reconciliation platform that will enable firms to standardize the margin calculation and verification process and resolve disputes, while maximizing straight-through processing. We are pleased to further strengthen our existing relationship with AcadiaSoft to the benefit of our mutual clients. ”
— Mayank Shah, Chief of Strategy and Alliances, Calypso Technology
“Industry collaboration is paramount as we move towards the final UMR phases. Our continued partnership with Calypso will give Phase 5 and 6 firms that are Calypso clients direct access to Initial Margin Exposure Manager, providing an end-to-end solution for UMR compliance that minimizes cost and reduces operational risk.”
— Fred Dassori, Chief Product Officer, AcadiaSoft
Calypso is an ISDA Licensed Vendor, with access to market best-practice margin methodology in ISDA SIMM 2.2.
AcadiaSoft, Inc. is the leading industry provider of risk and collateral management services for the non-cleared derivatives community. AcadiaPlus is a new generation open platform that provides the sell-side, the buy-side and fund administrators with specialist applications and a third-party partner ecosystem for the straight-through processing of the entire risk mitigation lifecycle. Backed by 16 major industry participants and market infrastructures, AcadiaSoft is used by a community of more than 1100 firms exchanging approximately $700B of collateral on a daily basis via its margin automation services. AcadiaSoft is headquartered in Norwell, MA, and has offices in London, New York and Tokyo. For more information, visit acadiasoft.com.
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