BBH rolls out Pirum’s Recalls Manager 20 March 2024US Reporter: Sophie Downes
Image: Ivan/stock.adobe.com
Brown Brothers Harriman (BBH) has launched Pirum’s automated Recalls Manager solution.
The offering covers the full global post-trade lifecycle from issuance to closure and was adopted in an effort to reduce securities lending fails.
By employing automation and real-time coverage, BBH aims to promote a smooth transition to the shortened T+1 settlement cycle.
Sarah Holmes, global head of securities lending at BBH, says: “Straight-through processing (STP) across the full recall lifecycle is an important risk mitigant prior to North American markets moving to a T+1 settlement cycle in May.
“Expanding our capabilities in this area reduces operational friction with our borrowers and allows us to service our clients by reducing disruption to regular portfolio management activity.”
Jacob Koopmans, chief revenue officer at Pirum, adds: “By rolling out Recalls Manager
ahead of the incoming regulatory shift, BBH has freed up time and resources, which it can now redeploy to deliver even more value to its clients.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Ivan/stock.adobe.com 