AcadiaSoft has collaborated with BNY Mellon to allow buy-side market participants to manage margin calls, calculations, reconciliations and instruct the movement of collateral through a single platform.
Through its connection to AcadiaSoft, clients that select BNY Mellon as a segregation agent will now be able to calculate the required initial margin (IM), issue margin calls, reconcile disputes and direct the movement and receipt of collateral to the counterparties' relevant custodians.
AcadiaSoft acts as a central repository for calculating IM, enabling market participants to leverage the AcadiaPlus platform—an application providing messaging, data, workflow standards and connectivity to third-party partners for the global collateral industry—as a single point of contact.
The collaboration will enable buy-side clients to concentrate their entire collateral lifecycle through a relationship with BNY Mellon and AcadiaSoft.
In addition, the partnership aims to make compliance simpler with the final two implementation phases of non-cleared margin rules.
Chris Walsh, CEO of AcadiaSoft, said: "We're thrilled to deepen our partnership with BNY Mellon, which is one of the market leaders in collateral management, and we look forward to expanding the connectivity to support collateral segregation of other products.”
Jonathan Spirgel, head of liquidity and segregation services at BNY Mellon, commented: "This consolidated solution streamlines the entire collateral workflow for clients at a time when the buy-side is facing major new margin requirements on bilateral derivatives trades.”
He added: “Adding the ability to instruct collateral movements with AcadiaSoft enables clients to take full advantage of our wide range of collateral service offerings in a fully integrated environment."
