VERMEG’s COLLINE Collateral Suite Adds New Margin Analytics Capabilities from Cassini Systems
LONDON / NEW YORK – 6 January 2022 – VERMEG, a specialized software house providing Banking, Capital Markets, Insurance and Digital solutions, and Cassini Systems, the leading provider of pre- and post-trade margin and collateral analytics for derivatives markets, have partnered to assist financial institutions in complying with Initial Margin (IM) requirements for uncleared over-the-counter (OTC) derivatives, exchange-traded derivatives (futures and options) and prime brokerage. VERMEG has integrated Cassini’s margin analytics platform into its COLLINE collateral suite, giving its clients a powerful new tool for achieving cost efficiencies and helping to meet requirements of the Uncleared Margin Rules (UMR).
As margin requirements have continued to increase across different business lines such as OTC derivatives, repo and securities lending, firms are under greater pressure to capture and attribute how margin impacts the front and back office alike. The VERMEG-Cassini partnership provides clients with a comprehensive workflow for managing intraday and end-of-day collateral requirements centrally within COLLINE’s standardized workflow inclusive of collateral optimization. The integration includes Cassini’s Standard Initial Margin Model (SIMMTM) and Standard Approach calculation service at pre- and post-trade as well as margin methodologies of exchanges, central counterparties (CCPs) and prime brokers providing firms full transparency across all asset classes.
COLLINE is VERMEG’s integrated platform for cross-product collateral management supporting cleared and uncleared derivatives in all asset classes. Available as a Software-as-a-Service (SaaS), client-cloud, or on-premise offering, COLLINE’s modular architecture enables organizations of any size to select those features that best support their needs and scale as their business grows.
Cassini’s platform provides a full front-to-back solution covering margin, collateral and cost analytics for all classes of cleared and uncleared OTC derivatives as well as futures and options. It integrates into post-trade collateral management, treasury and risk systems – enabling clients to bring post-trade cost analytics into the pre-trade process. Many of the world’s leading asset management platforms rely on Cassini to facilitate leveraging analytics with little implementation overhead.
Liam Huxley, CEO of Cassini Systems, said: “As UMR reaches phase 6 and impacts the full range of buy-side firms, the need for a complete and flexible, front-to-back SIMM calculation, including the generation of sensitivities, is critical. The time for these firms to prepare is now. We’re delighted to work with VERMEG to provide Cassini’s comprehensive margin and SIMM calculation capabilities within the COLLINE workflows to help its clients meet their regulatory obligations in a cost-effective, seamless manner.”
Wassel DAMMAK, Head of Collateral Solutions Strategy, said: “We are excited to partner up with Cassini to help clients more efficiently manage their margin by leveraging analytics at different stages of the collateral workflows. By September 2022, many firms will be impacted globally by UMR, and Cassini is a natural partner to help those firms with a best-of-breed solution. The combination of COLLINE’s process automation with Cassini’s margin analytics will enable clients to leverage a powerful and robust One-Stop-Shop solution to manage complex business and regulatory requirements.”
About Cassini Systems
Founded in 2014, Cassini Systems offers an award-winning derivatives margin analytical platform that provides the industry’s only front-to-back margin and cost analysis across the entire lifecycle of a trade. Cassini users can calculate any margin on any cleared or uncleared derivatives asset; analyze drivers and movement in margin exposure; reduce Initial Margin levels; and maximize margin efficiency with the firm’s industry leading, advanced algorithms. Cassini services have a proven track record of enhancing portfolio returns at every point in the daily business cycle, empowering traders and portfolio managers with the ability to analyze instantly in the pre-trade stage the all-in, lifetime cost of a transaction. Top-tier hedge funds, asset managers and Tier 1 banks rely on Cassini for powerful, flexible, automated tools to manage their portfolios of over-the-counter and exchange-traded derivatives products. For more information, visit www.cassinisystems.com.
VERMEG is a specialised software house covering these main markets: Banking, Capital Market and Insurance. We provide proven OOTB solutions and a Digital Transformation platform, PALMYRA.
Our business solutions are designed to address the challenges linked to the transformation of the financial services industry. As information system architects, we ensure our clients can achieve cost reductions and Time-To-Market control in the modernization of their information systems.
In addition to offering standard software solutions that meet evolving digitized needs, VERMEG provides tailor-made solutions based on our own tools, project and business expertise.
VERMEG has over 1700 employees, with a presence in Australia, Belgium, Brazil, China, UK, France, Germany, Japan, Hong Kong, Luxembourg, Mexico, Netherlands, Singapore, Spain, Tunisia and United States. The company supports more than 550 clients in 40 countries.
More information is available at: www.vermeg.com
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