AcadiaSoft, a provider of margin automation solutions for counterparties engaged in collateral exchange, has purchased ProtoColl.
The purchase of ProtoColl, an end-to-end collateral and margin management service, from the Depository Trust & Clearing Corporation (DTCC), will create a central margining platform for OTC derivatives to meet new regulatory requirements according to company.
Buy-side firms and smaller banks set to face new variation margin (VM) rules for non-cleared OTC derivatives that recently came into effect. By buying the company, AcadiaSoft will accelerate its ability to provide market participants with automated VM processing services, creating a Central Margining solution for both IM and VM flows.
The acquisition also enlarges the AcadiaSoft team, which now surpasses 100 people, having recently opened a New York office and expanded its London.
“This expanded market infrastructure benefits all firms within the derivatives industry,” added Mark Demo, product director for AcadiaSoft. “Small to mid-sized firms now have the basic margin functionality required to automate; large banks get the long-term platform required to substantially reduce costs; and firms of all types and sizes can reduce disputes to manageable levels using standardized data, calculation methods and workflows.”
AcadiaSoft’s Hub is a central margining platform which acts like a collateral operating system to automates, standardizes and integrates margin calculations, reconciliations, communication and disputes management for counterparties involved in the margining process.
Headquartered in Norwell, MA, and with offices in London, Tokyo and New York, AcadiaSoft is owned and backed by the investment of 16 major industry participants and infrastructures.
Copyright © 2017 RegTech Analyst
Copyright © 2018 RegTech Analyst
