London / New York, 13 March 2017 – CloudMargin, the multi-award winning creator of the world’s first web-based collateral and margin management solution, today announced that Nasdaq Clearing has been included into the CloudMargin platform. This will provide Nasdaq Clearing’s clients with a seamless collateral management solution for collateralising cleared derivatives products. Under the arrangement, CloudMargin and Nasdaq Clearing are establishing interoperability that will significantly enhance and streamline Nasdaq Clearing’s collateral-related communications, including issuance of the most up-to-date eligibility schedules, reports, messages and instructions.
As buy-side market participants continue to increase their use of cleared products, this arrangement between Nasdaq and CloudMargin can promote more efficient communication between all market participants, including clearing firms and buy-side institutions, and provides buy-side customers with the ability to manage their cleared and non-cleared collateral margin activity through one centralised platform.
Lee McCormack CloudMargin Head of Strategy, said: “We believe this type of interoperability will set a standard for the industry going forward. CloudMargin’s unique ability to offer a consolidated view and management of collateral needs is increasingly important as the volumes of margin movements rocket for both cleared and uncleared trades. Nasdaq is doing a great service to its market users by facilitating this capability, with benefits for sell-side and buy-side institutions and clearing firms alike. We are pleased to lead the way toward an industry-wide hub for all cleared and non-cleared derivatives transaction collateral activity as forward-thinking marketplaces like Nasdaq facilitate the transition on behalf of their constituencies.”
Fredrik Ekström, Nasdaq Head of Nordic Fixed Income & European Clearing, said: “Innovative and capital-efficient solutions are at the heart of what we do at Nasdaq Clearing. CloudMargin’s effective and seamless web-based solution enables our clients to manage margin collateral across clearing houses and bi-lateral counterparts. Nasdaq Clearing believes that distribution of risk is a key factor in protecting the financial sector from systemic risks. The CloudMargin offering supports such infrastructure in an efficient way.”