4sight and Pirum build upon partnership
17 December 2015 London
Image: Shutterstock
Technology providers 4sight and Pirum have created a new interface between their securities lending platforms.
The latest joint-venture allowing users of 4sight鈥檚 securities lending product to integrate with Pirum鈥檚 real time post-trade automation services.
The interface is an expansion on the existing 4sight-Pirum modules, which already provides connectivity to Pirum鈥檚 contract and billing compare services.
The interface is used to process various parts of the securities finance post-trade lifecycle in real time, including bilateral and triparty collateral management and for connectivity to central clearing counterparties, according to 4sight.
Martin Seagroatt, 4sight鈥檚 marketing director, said: 鈥淭he enhanced connectivity between 4sight securities finance and Pirum鈥檚 real time service is a major step forward in increasing the automation and straight through processing we offer to our shared clients.鈥�
鈥淎s regulatory cost pressures continue to impact the securities finance industry, reducing manual effort and operational risk through the use of technology is becoming a key way for market participants to maintain profitability.鈥�
Mark Schilling, global head of sales at Pirum, added: 鈥淲hile our clients are continually challenged with a combination of regulatory hurdles and pressure to reduce operational overhead and risk, they鈥檙e increasingly looking for automated real time solutions to facilitate these processes.鈥�
鈥淲orking with 4sight to create a standardised interface between ourselves allows our mutual clients to access the benefits of our real time services while reducing the burden on their own IT resources.鈥�
The latest joint-venture allowing users of 4sight鈥檚 securities lending product to integrate with Pirum鈥檚 real time post-trade automation services.
The interface is an expansion on the existing 4sight-Pirum modules, which already provides connectivity to Pirum鈥檚 contract and billing compare services.
The interface is used to process various parts of the securities finance post-trade lifecycle in real time, including bilateral and triparty collateral management and for connectivity to central clearing counterparties, according to 4sight.
Martin Seagroatt, 4sight鈥檚 marketing director, said: 鈥淭he enhanced connectivity between 4sight securities finance and Pirum鈥檚 real time service is a major step forward in increasing the automation and straight through processing we offer to our shared clients.鈥�
鈥淎s regulatory cost pressures continue to impact the securities finance industry, reducing manual effort and operational risk through the use of technology is becoming a key way for market participants to maintain profitability.鈥�
Mark Schilling, global head of sales at Pirum, added: 鈥淲hile our clients are continually challenged with a combination of regulatory hurdles and pressure to reduce operational overhead and risk, they鈥檙e increasingly looking for automated real time solutions to facilitate these processes.鈥�
鈥淲orking with 4sight to create a standardised interface between ourselves allows our mutual clients to access the benefits of our real time services while reducing the burden on their own IT resources.鈥�
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