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Collateral Messaging

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for Derivatives

Control and harmonisation in action

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Collateral messaging

The OTC Derivatives market continues to evolve. The legislators and

regulators are pushing the industry to lower counterparty risk and increase

transparency. They are also forcing through radical changes to the OTC

derivatives landscape, with new central counterparties, clearing services,

trading venues and reporting repositories. The Dodd-Frank Act and

the EU directive on Markets Infrastructure mean no participant in this

industry will be immune. The impact of Basel III and other regional

initiatives introducing more onerous capital requirements are already

being keenly felt.

One of the key areas of change is in collateral. Whether reactive -

better collateral management across the organisation, or proactive

- collateral optimisation or arbitrage, the impact will be dramatic.

Put simply, collateral will need to move more quickly, so established

processes need to change. Whether you prefer “agile”, “flexible”, or

“future-proof” the sentiment remains the same – but it better not be just

lip service because timescales to address these requirements are shortening.

Failure to plan will result in restrictions on an organisation's ability to do business.

futureLANDSCAPE - the platform designed for the challenges ahead

As volumes and frequency of intra-day margin calls and collateral transformation requirements grow, phone calls and free format e-mails will no longer be practical. Straight- through processing (STP) is a necessity. Electronic messaging internally and externally is an essential component of implementing STP.

We have used our expertise in messaging and validation of complex messaging to create futureLANDSCAPE. Fully rules based, this innovative solution enables a business to retain full control of its message flows, both internal and external. Routing decisions and format transformation can be made according to sophisticated criteria to provide a single abstraction layer. This insulates the business from the technical requirements such as transport mechanism or message protocol.

Sourcing data for collateral actions

The futureLANDSCAPE solution can be used to connect multiple internal sources of risk and margin calculation, such as:

Our proven transformation technology is then used to bring these disparate data formats back to a common structured format, Message Automation Mark-up Language (MAML). We can then make use of our patented director functionality to determine which format the destination requires. Our translation functionality is also ideal for enriching data from diverse reference systems prior to transmission. Validation against business rules or against other data sources, for example for SWIFT, is all handed by rules configuration as opposed to code. futureLANDSCAPE allows definition of routing rules by message type. It also provides for overrides by trading venue, jurisdiction, channel, counter party type, clearing method, region, etc. etc.

All the messaging routing both at inception and the subsequent responses is rules based and can be rapidly adapted to changing market practice. The same software platform can be used for intra-day and overnight communication. Off-the-shelf connectors are available to cover the key industry requirements, such as:

Feature Highlights

Connections to new external platforms, custodians, third party service providers and customers can be added with changes to rules only. The platform works across all asset classes to provide consistent rules based routing of requests. Our proven FpML Messaging platform allows the introduction of new message types, and third party connections without code.


Please download the info sheet:

Collateral Messaging Collateral Messaging Flyer.pdf


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Collateral Messaging

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Product Taxonomy

Quick Links

Solution OverviewCollateral Messaging Flyer.pdf

Any Questions?

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