AcadiaSoft, a provider of risk and collateral management services for the non-cleared derivatives community, is making a new effort to make its products and solutions more accessible to the Asia Pacific (APAC) region as phases five and six firms fall into scope for the Uncleared Margin Rules (UMR).
The collateral management services provider will expand functionality for key products in APAC, including the IM Threshold Monitor.
Firms will be able to electronically agree to IM Threshold Monitor terms using an industry-standard side letter as per local regulatory requirements in the region.
It will also provide more ways for APAC firms to access its tools, such as IM Exposure Manager, and add more local-language resources for Japanese and Korean firms.
AcadiaSoft’s services are used by more than 60 local firms, including nearly all of the major Australian, Japanese, Singaporean and Hong Kong financial institutions. This includes agreements with the trust banks in Japan.
It also has engagements with banks and vendors in Korea, Mainland China, New Zealand, Taiwan and Thailand, and recently entered into partnerships with two South Korean vendors.
“Phase five is a crucial threshold for many institutions in the APAC region, and the challenges in this region are unique, with many disparate local regulations and language barriers,” said Takashi Nagai, head of business development at AcadiaSoft, APAC.
Elsewhere, AcadiaSoft recently established a Japanese legal entity, AcadiaSoft Japan GK, which will provide sales, marketing and account management functions. In addition, AcadiaSoft has launched a Japanese-language website.
The new website will make it easier for Japanese firms to learn about and engage with AcadiaSoft, including through AcadiaSoft’s local working groups in Japan, which focus on UMR and other regulatory and industry requirements that are specific to the region.
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