ICAP expands partnership with AcadiaSoft 08 July 2015London Reporter: Stephanie Palmer
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ICAP has increased its investment in AcadiaSoft, an electronic margining provider of over-the-counter (OTC) derivatives.
The investment is a joint venture between markets operator and post-trade risk mitigation service provider ICAP, DTCC and Euroclear, along with four other banks and six additional investors.
ICAP鈥檚 TriOptima has also entered in to agreements with AcadiaSoft, DTCC and Euroclear in plans to link AcadiaSoft鈥檚 messaging service, MarginSphere 2 with TriOptima鈥檚 ITC trade reconciliation service and DTCC and Euroclear鈥檚 joint Margin Transit Utility.
This network intends to create a smooth end-to-end collateral processing hub for non-cleared derivatives.
Michael Spencer, group CEO of ICAP, said: 鈥淭his cooperation between AcadiaSoft, TriOptima, DTCC-Euroclear and our partner banks is very exciting and we look forward to working with the other shareholders to create a true industry solution.鈥�
鈥淲e will combine TriOptima鈥檚 expertise through its triResolve portfolio matching service with AcadiaSoft鈥檚 margin messaging platform which will facilitate regulatory compliance and a reduction in operational costs and risks.鈥�
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