.jpg)
AcadiaSoft, a provider of risk and collateral management services for the non-cleared derivatives community, has partnered with Korean bond pricing company KIS Pricing as part of a further push into Asia Pacific (APAC).
The partnership will give KIS Pricing clients access to AcadiaSoft’s Initial Margin Exposure Manager. The collaboration will also enhance AcadiaSoft’s presence in the South Korean market by expanding its local language resources.
AcadiaSoft first made its Initial Margin Exposure Manager available in APAC in October last year in preparation for phase five and six of the Uncleared Margin Rules (UMR).
Users will be able to electronically agree to IM Threshold Monitor terms using an industry-standard side letter as per local regulatory requirements in the region.
Takashi Nagai, APAC head of business development at AcadiaSoft, says: “Our partnership with KIS Pricing expands our reach in the Korean market and is an important step as we continue to establish ourselves in the APAC region.
“Working together with KIS Pricing, we will help local clients manage IM exposure and work towards regulatory compliance as we approach the final implementation phases of the UMR.”
Song Young-jun, head of KIS Pricing financial consulting group, adds: “As the deadline for UMR compliance draws near, we are pleased to be able to offer our clients access to AcadiaSoft’s industry-leading collateral management tools.
“Our partnership with AcadiaSoft allows our clients to efficiently and effectively manage IM exposure and automate the margin call process, both critical components on the road to UMR compliance.”
AcadiaSoft has been present in APAC for five years and its services are used by more than 60 local firms, including nearly all of the major Australian, Japanese, Singaporean and Hong Kong financial institutions. This includes agreements with the trust banks in Japan.
It also has engagements with banks and vendors in Mainland China, New Zealand, Taiwan and Thailand, and recently entered into partnerships with two South Korean vendors.
