Newsletter MEGARA Issue 11 | Q3 | 2022
Date
Swift Release 2022
We are glad to announce that the latest release of MEGARA is ready to deal with the new changes introduced within the 2022 SWIFT release and is being certified in the upcoming days.
The area being certified this year covers the following Labels.
⁄ Securities Settlement
⁄ Corporate Actions
⁄ Collateral Management
One of the main changes introduced this year is the introduction of new structured fields to deal with digital assets transactions.
Since last year, MEGARA has already been able to offer custody services for traditional and digital assets over several Blockchain platforms. With these changes, MEGARA can now benefit from Swift as a structured and secure channel for receiving and reporting transactions on the Securities Token.
The main changes that are enabling these features are:
⁄ Swift allowing the support Wallet ID
⁄ Support more considerable quantities with more decimals: MEGARA can now support quantities up to 20 digits with a precision of up to 18 decimals.
CCP Collateral packaging
For over a decade and a half, MEGARA has offered a Collateral Management solution for Central Banks deployed within several National Central Banks.
Next year, it will be used by the European Central Bank and the 19 Central Banks of the Eurozone as part of the Eurosystem Collateral Management System (ECMS) project.
In light of our Collateral Management solution for Central Banks, our offerings have been enriched by a new packaging addressing the Clearing Houses & Central Clearing Counterparties (CCP) needs to help them better manage the collateral provided by their clearing members.
This new packaging leverages all the ECMS features and our experience with our CCP customers to offer a best-of-breed solution for CCPs.
Easy Collateral – From ECMS to CCPs
VERMEG is delighted to announce that Easy Collateral has signed up two large European Financial Institutions for the ECMS activity.
Most recently, Easy Collateral has been given a new extension to become a Cross Business Line Digital App, addressing its offer to Central Clearing House (CCP) and ECMS participants.
Building on the momentum of the first version, Easy Collateral has just signed up its first CCP customer, one of the top three players in Europe.
Clearing members will need to connect to Easy Collateral to perform their daily collateral operations:
⁄ View in Real-Time the Collateral assets and Exposure as it stands in their CCP Pool.
⁄ Manage the Collateral Settlement activity: post-Default Fund contributions (DF) and deposit collateral to cover Margin exposure.
⁄ Access the reference data for eligible instruments defined by the CCP Eligibility Matrix.
⁄ Monitor the Marketable assets transactions initiated by the clearing member.
⁄ Cash Optimization: improve the cash allocation efficiency based on criteria and ranking selected by the user.
⁄ Run Pool Simulation to assess the impact of a potential transaction on the Global Pool position.
⁄ Download collateral reports.
CSD new features
With the upcoming release, several new corporate actions related features relevant to European CSDs will be available to offer functionalities to better comply with CSD requirements and with SCoRE.
The following features are now available to MEGARA Customers:
⁄ Compliance with Standards: Enrich the transformation process to consider a late settlement in case of PCAL.
⁄ SCoRE: Support of MSU et SUM rule when calculating the proceeds.
⁄ Paying agent: Notifying the paying agent and issuer to inform them about expected payments.
VERMEG is delighted to announce that we have again achieved IEC/ISO 27001 certification
VERMEG is delighted to announce that we have achieved IEC/ISO 27001 certification again, following a successful audit by Ernst & Young CertifyPoint of our headquarters in Tunis and the international offices in New York, London, Paris, Brussels and Luxemburg. We achieved an almost perfect score.
ISO27001 is an essential international standard for information security. This, along with our SOC II Type 2 certification, clearly indicates our commitment to delivering quality and secure services to our customers globally.
Congratulations to all VERMEG teams, and here’s to a safe and secure environment!
Meet us at Sibos – Amsterdam, Oct 10-13
VERMEG is attending Sibos 2022, the world primer financial services event, from 10 to 13 October 2022 at Amsterdam’s RAI Convention Centre.
With Sibos bringing participants together in person, we are excited to share some of our fantastic work in Collateral Management and discuss how our solutions continuously support the Central Bank community in the collateral management and post-trade processing area.
VERMEG is Exhibiting at Fleming’s Collateral Management Forum 2022
VERMEG is glad to sponsor Fleming’s 16th Annual Conference, the Collateral Management Forum, on the 19th & 20th of October 2022 in Amsterdam.
This Forum has been ongoing for over 16+ years of financial services events worldwide. A year-long event preparation in close collaboration with financial industry professionals and 20+ senior financial services industry experts sharing their insights and know-how on the hottest topics in the collateral area.
Please join us at the Fleming event. VERMEG team will be pleased to exchange about the latest in the Collateral Management and Optimization space.