Brazilian Bank Branch Improves Control and Efficiency in Managing OTC FX Transactions
LONDON, 7 March 2019 – CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, today announced that Banco do Brasil in London, a branch of one of Latin America’s largest banks, has deployed the CloudMargin platform for its global collateral processing. The branch is now fully onboarded to CloudMargin, using the platform to process collateral for its over-the-counter (OTC) foreign exchange (FX) transactions, including FX forwards and cross-currency swaps.
Prior to transitioning to CloudMargin’s platform, Banco do Brasil was using in-house solutions to manage its OTC collateral activity.
Juliano Marcatto, Deputy General Manager at the branch, commented: “Going live with CloudMargin went very smoothly. It has been a pleasure working with the team, which provided us with tremendous support throughout the on-boarding process. It’s a great improvement.”
CloudMargin CEO Steve Husk said: “We’re very pleased that our platform, with feature-rich functionality, integrates so well with the unique collateral processes at Banco do Brasil, giving the operations team substantially greater structure and control at an affordable cost. Our cloud-based solution is accessible globally, giving clients one shared view of their collateral data and real-time status of their workflow, enabling teams to increase their efficiency considerably. In today’s environment, using a spreadsheet based approach for collateral management is just not a viable, robust option for most firms.”
Headquartered in London, CloudMargin created the world’s first cloud-based collateral management workflow tool, which has earned more than 15 industry awards and honours since 2015 for innovation and best-in-class technology. The firm’s Software-as-a-Service (SaaS) model is helping many of the leading financial institutions globally – including brokerage firms, banks, asset management firms, insurance companies and exchanges – meet time-critical regulatory deadlines and reduce costs associated with collateral requirements that are growing dramatically. CloudMargin bypasses many of the shortfalls of legacy, on-premise software, enabling clients to experience rapid implementation and access to robust and secure collateral management workflow software. For more information, visit www.cloudmargin.com.
Ellen G. Resnick
Crystal Clear Communications
+1 312-399-9295 (mobile)