MEGARA Newsletter Issue 8 | Q4 | 2021
Date
New opportunities
In the final quarter of 2021, we focused on three main areas – SWIFT / ISO 20022 connectivity, settlement of crypto assets using blockchain and dashboard enhancements for the web portal.
Counterparties access
The Eurosystem Collateral Management System (ECMS) project has reached an advanced phase. MEGARA powers a collateral solution to manage counterparties’ credit claims and assets, fully in line with new ECMS harmonized standards. Bank treasurers have the opportunity to perform risk management on their entire inventory of credit claims, prior to seamless credit claim mobilization. The solution pre-validates these payments to prevent ECMS rejection, which reduces operational risk. It also offers full internal reconciliation of ECMS positions in the pool overview screen.
Furthermore, the credit claim tool will be included in a modular extension, using SWIFT / ISO 20022 connectivity with the Euro system platform. This plug-and-play tool is designed to cover all management and monitoring aspects of a bank treasury function and enables full readiness for ECMS by June 2022. The global solution combines below the modules:
⁄ Inventory and allocation: real-time visibility of available assets.
⁄ Marketable Assets management
⁄ Credit Claims management
⁄ Corporate Action management for mobilized assets
⁄ Pool and Credit Line management
Connectivity of MEGARA with LiquidShare to seamlessly settle crypto assets using blockchain technology
Blockchain technology is changing how business is done in the regulated securities custody industry.
As a provider of asset custody software to central banks and financial services firms, VERMEG has established an all-to-all connection between MEGARA and LiquidShare’s platform, an innovative European provider of a blockchain settlement platform.
By connecting both solutions, we offer a faster time-to-market capability to clients, allowing them to extend their services and increase their business. LiquidShare is an important player in blockchain custody, and this partnership will accelerate the adoption by custodians of a single solution, supporting all asset types
Custodians using MEGARA can now expand their custody services to existing customers and attract new ones. Risk can be better controlled.
VERMEG’s focus is on ensuring our customers are always well-positioned to take advantage of market changes and our investment in blockchain is testament to that. Custodians using MEGARA can support all asset classes – a capability currently not available from other solutions in the market.
Collateral Web portal
To enhance the quality of services related to collateral management, MEGARA now offers a Web portal for end-clients of financial services providers offering them greater control over provided collateral. This portal offers the following features:
⁄ Cash collateral mobilization
⁄ Collateral position monitoring
⁄ Margin call status
⁄ Collateral pool monitoring
⁄ Trade exposure monitoring
New dashboard for Web portal
MEGARA Web Portal dashboards were reviewed to improve user experience and to highlight the most important information in a concise way.
