LONDON and BOSTON, April 11, 2011 /PRNewswire/ -- AcadiaSoft, Inc. today announced the launch of a web-based portal for collateral management and workflow in the OTC derivatives market, which substantially improves operational efficiencies for both sell-side and buy-side participants. The new portal provides a unified, automated venue from which market participants can receive, send and confirm margin calls, taking the place of today's less efficient practice of using email, fax and phone.
Already, the service is being piloted by major market participants -- Barclays Capital, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley and State Street -- and there is substantial interest from other major dealers as well as buy-side market participants.
"The importance of properly managing collateral and counterparty risk has never been more important than it is today given the growth in the industry and recent financial market events," said Craig Welch, co-founder of AcadiaSoft. "Our service replaces the inefficiencies created by the current, manual approach and offers one that is highly visible and reliable. We believe the benefits offered will help market participants achieve better operational efficiencies and help prepare for future growth."
AcadiaSoft allows dealers and investors to manage all aspects of collateral communications online, giving parties involved in a trade access to the same information instantaneously. Users may view their collateral exposures and commitments and make adjustments as needed. All activity is time stamped, and a fully auditable audit trail of activity is created. Users can interface with the system through the internet and, in-house collateral management systems can be seamlessly integrated.
The new service significantly improves the process by reducing operational risk and by dramatically increasing transparency. Having a centralized location from which to track and manage margin calls helps avoid costly and time-consuming errors while also helping to achieve STP. Welch says additional users are expected to pilot the system soon.
Recently, MarkitSERV, the premier electronic trade processing platform for OTC derivatives, began offering collateral management services in partnership with AcadiaSoft. The partnership integrates AcadiaSoft into the MarkitSERV portal and expands the scope of MarkitSERV's platform for managing post-trade requirements of OTC derivative transactions.
About AcadiaSoft, Inc.
AcadiaSoft, Inc. offers a unified collateral management workflow environment that streamlines communications between broker-dealers and investment managers in the global OTC derivatives market. Owned in part by several leading financial institutions, it allows market participants to communicate vital information on exposures, commitments and adjustments between counterparties in a complete, verifiable and secure manner. Designed for both sell-side and buy-side, the platform provides a simple solution to the complex issues associated with collateral management workflow thereby reducing operational risk, saving time and resources and improving transparency. Please visit www.acadiasoft.com
SOURCE AcadiaSoft, Inc.