CME Group and CloudMargin Collaborate to Deliver an Integrated Collateral Management Service for Cleared and Non-Cleared Margin
LONDON, June 8, 2016
CME Group, the world’s leading and most diverse derivatives marketplace, and CloudMargin, the award-winning collateral management provider, today announced they have collaborated to offer CME Clearing and CME Clearing Europe customers the first cloud-based software service that integrates and automates the management of collateral in one place. This allows market participants access to a consolidated view across their complete collateral inventory that they can utilize for both cleared and non-cleared derivatives transactions at any given time.
“We are excited to announce CME Group’s collaboration with CloudMargin. The cloud-based collateral management service will be of particular relevance for market participants who want to fulfill all of their operational and regulatory requirements efficiently,” said Sunil Cutinho, President, CME Clearing. “Our collaboration with CloudMargin will ensure that collateral management becomes even more accessible and robust.”
The tool handles complex collateral requirements with multiple counterparties. It also provides automated connectivity to global custodians, banks, clearing brokers and clearing houses in order to manage collateral across all asset types and instruments.
“Our relationship with CME Group will immediately benefit all current and future members of the CloudMargin community,” said Steve Husk, CEO of CloudMargin. “Where, through regulation, activity is migrating away from non-cleared transactions to central clearing, our expanded functionality in both areas ensures we remain able to support all our clients’ end- to-end collateral management requirements in our fully automated, light touch cloud-based model.”
About CME Group
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world’s leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group’s products and services ensure that businesses around the world can effectively manage risk and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT, the Chicago Board of Trade, KCBOT, KCBT and Kansas City Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners.
The new regulatory landscape is significantly impacting all users of collateral. CloudMargin therefore responded to these new industry trends by becoming the first cloud-based risk and margin management platform aimed specifically at the buyside. This evolution in approach allows the buyside to meet their new, post-crisis objectives whilst bypassing many of the shortfalls of legacy, on-premise software and outsourced alternatives.