CME Group in collateral venture with CloudMargin

CME Group and CloudMargin, a collateral management provider, have joined forces to offer CME Clearing and CME Clearing Europe customers the first cloud-based software service that they say integrates and automates the management of collateral in one place.

” The cloud-based collateral management service will be of particular relevance for market participants who want to fulfill all of their operational and regulatory requirements efficiently,” said Sunil Cutinho, president, CME Clearing. “Our collaboration with CloudMargin will ensure that collateral management becomes even more accessible and robust.”

The tool handles complex collateral requirements with multiple counterparties. It also provides automated connectivity to global custodians, banks, clearing brokers and clearing houses in order to manage collateral across all asset types and instruments.

“Our relationship with CME Group will immediately benefit all current and future members of the CloudMargin community,” said Steve Husk, chief executive officer of CloudMargin. “Where, through regulation, activity is migrating away from non-cleared transactions to central clearing, our expanded functionality in both areas ensures we remain able to support all our clients’ end- to-end collateral management requirements in our fully automated, light touch cloud-based model.”