AcadiaSoft, a provider of risk and collateral management services for the non-cleared derivatives, has announced the integration of first buy-side firm, phase 3 firms into its hub.
All firms in-scope for Phase 3 of the five-year Initial Margin (IM) rollout have been successfully onboarded onto the AcadiaSoft Hub, which includes the first buy-side firm to be subject to the rules.
The company has also successfully integrated all IM phase 1, 2 and 3 firms to its Hub platform and services.
Eight counterparty groups are in-scope for the Phase 3 of the regulatory framework established by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO).
All of the firms use AcadiaSoft’s MarginSphere platform for the issuance and agreement of regulatory IM calls as well as its Initial Margin Exposure Manager (IMEM) for calculation and reconciliation of IM exposure using either the ISDA SIMM or schedule method.
Mark Demo, head of industry and strategy at AcadiaSoft, added: “We are pleased that the AcadiaSoft Hub has become the one-stop shop for firms under the IM rules. We are now laser-focused on expanding and enhancing the capabilities of the Hub to prepare for the hundreds of firms that will fall under IM phases 4 and 5 in 2019 and 2020.”
AcadiaSoft is headquartered in Norwell, MA and has offices in London, New York and Tokyo.
The AcadiaSoft Hub encompasses a suite of applications and analytics that enable and measure the complete STP workflow from CSA agreement management, risk services, margin and collateral management through to settlement.
Backed by 17 major industry participants and market infrastructures, AcadiaSoft is used by a community of more than 650 firms exchanging approximately $400B of collateral on daily basis via its margin automation services.
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