SmartStream partners with Cassini Systems
March 20, 2019

SmartStream Technologies, the financial Transaction Lifecycle Management (TLC) solutions provider, has today announced its partnership with Cassini Systems, a provider of pre- and post-trade margin analytics for buy-side derivatives trading, to help financial institutions comply with BCBS-IOSCO margin requirements for uncleared OTC derivatives.

SmartStream notes that BCBS-IOSCO defines rules for margin requirements on Uncleared Over-the-Counter (OTC) derivatives known as Uncleared Margin Rules (UMR). ISDA has developed a Standard Initial Margin Model (SIMM) that can be used by market participants to provide a transparent and standardized margin methodology of bilateral trades. The roll-out of UMR rules has now reached the buy-side with phase four firms coming into scope in September 2019, and phase five firms in September 2020. 

SmartStream says its TLM Collateral Management provides firms with automated data management to reduce operational risks associated with collateral management. This partnership will integrate Cassini's analytics platform to provide complete SIMM calculations on OTC derivatives for clients in scope for phase four and five. This gives TLM clients the ability to reduce counterparty disputes and operational costs, while having transparency over the SIMM components and underlying risk of the portfolio. 

Liam Huxley, CEO of Cassini Systems said: "As the roll-out of UMR reaches phase five and impacts the full range of buy-side firms, the need for a complete and flexible, front to back SIMM calculation, including the generation of sensitivities, is fundamental. Integrating Cassini's comprehensive margin and SIMM calculation capabilities will enable SmartStream to solve the regulatory IM requirements for its clients with a fully integrated and seamless solution."





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SmartStream Technologies, the financial Transaction Lifecycle Management (TLC) solutions provider, has today announced its partnership with Cassini Systems, a provider of pre- and post-trade margin analytics for buy-side derivatives trading, to help financial institutions comply with BCBS-IOSCO margin requirements for uncleared OTC derivatives.

SmartStream notes that BCBS-IOSCO defines rules for margin requirements on Uncleared Over-the-Counter (OTC) derivatives known as Uncleared Margin Rules (UMR). ISDA has developed a Standard Initial Margin Model (SIMM) that can be used by market participants to provide a transparent and standardized margin methodology of bilateral trades. The roll-out of UMR rules has now reached the buy-side with phase four firms coming into scope in September 2019, and phase five firms in September 2020. 

SmartStream says its TLM Collateral Management provides firms with automated data management to reduce operational risks associated with collateral management. This partnership will integrate Cassini's analytics platform to provide complete SIMM calculations on OTC derivatives for clients in scope for phase four and five. This gives TLM clients the ability to reduce counterparty disputes and operational costs, while having transparency over the SIMM components and underlying risk of the portfolio. 

Liam Huxley, CEO of Cassini Systems said: "As the roll-out of UMR reaches phase five and impacts the full range of buy-side firms, the need for a complete and flexible, front to back SIMM calculation, including the generation of sensitivities, is fundamental. Integrating Cassini's comprehensive margin and SIMM calculation capabilities will enable SmartStream to solve the regulatory IM requirements for its clients with a fully integrated and seamless solution."



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