Northern Trust has expanded its collateralised loan obligation (CLO) middle office services for institutional clients. The addition of compliance indenture monitoring and waterfall calculation capabilities to its Omnium platform builds on Northern Trust’s existing outsourced middle office functions for structured debt, which include loan closing, treasury and real-time data shares. The new capabilities provide a…
Category: Collateral
Euroclear launches DVP repo service
Euroclear has launched a U.S. Treasury DVP repo service. The new solution is designed for U.S. Treasury repo market participants operating in the U.S. settling USD transactions. The first trade was completed between Euroclear Bank and Toronto Dominion Bank London. The service offers cash lenders similar operational efficiency for DVP repo transactions as triparty repo…
Pirum appoints chairman
Pirum, the fintech focused on securities finance automation and collateral management, has appointed Richard Bentley as non-executive director and chairman of the Pirum board of directors. His most recent roles include chief product and engineering officer at Adenza (formerly Calypso and AxiomSL, now part of Nasdaq Inc). This follows the recent appointment of Ben Challice…
Challice steps up at Pirum
Pirum, the fintech focused on the securities finance and collateral management sector, has appointed Ben Challice as CEO. Challice re-joined Pirum last year as president & chief of strategy from J.P. Morgan, where he led its trading services business globally.
BNY pilots first intraday repo trade
BNY has piloted the first intraday repo trade settled through its triparty infrastructure. The USD-denominated pilot transaction, which took place in February, saw UBS borrowing cash from Swiss Re while delivering collateral via BNY’s global collateral platform.
Euroclear builds collateral management services with Taskize
Euroclear Bank’s collateral management services unit is now using Taskize, the Euroclear-owned investment operations collaboration platform – as well as its integration with email and Symphony Messaging – to make query resolution faster and easier to manage. Taskize provides a single ecosystem where different stakeholders can exchange, negotiate and conclude their deals, allowing all information…
Pirum hires from J.P. Morgan
Pirum, the fintech for securities finance automation and collateral management, has hired Ed Corral as head of collateral services. Corral joins Pirum’s New York office to lead the expansion of CollateralConnect, the firm’s collateral management and optimisation solution. Corral joins Pirum from J.P. Morgan, where he was global head of collateral management.
Pirum hires from Rimes
Pirum, the fintech for securities finance automation and collateral management, has hired Rhys Chapman as global customer success director, overseeing customer success, client services, and client onboarding. Based in London, Chapman joins from Rimes.
Eurex to launch collateral service
Eurex Clearing plans to launch a collateral mobilisation service, supported by DLT, in Q2 2025. The flexibility, speed and efficiency of collateral transfers should be enhanced by mobilising collateral with the support of the HQLAX digital ledger. The goal is to ensure that securities collateral becomes easily accessible, independent of its physical location, and can…
Platinum goes to NTRS
Northern Trust has been appointed by Sydney-based Platinum Asset Management to provide comprehensive asset servicing solutions across its Australian funds. Platinum Asset Management focuses on global equities and has approximately AUD11bn (USD6.8bn) AuM. Under the terms of the new mandate, Northern Trust will provide custody, fund administration, regulatory reporting, investment operations outsourcing, ETF administration and…