SIX Group has launched a triparty collateral management (TCM) solution, enabling all requirements for opening, managing and closing collateral exposures to be managed in the Collateral CockpitTM service that it has used to manage repo services since June 2020.
With this release, SIX says that it will complement its existing triparty agent solution with enhanced triparty collateral management functions offered through the TCM service.
Nerin Demir, SIX’s head of repo and collateral management, says: “With this solution combined with our sophisticated Collateral CockpitTM, we provide a higher level of security, control and useability for our clients. In addition, we established the backbone for collateral mobilisation, enabling many new use cases for our collateral management service and a foundation for future growth.”
SIX’s head of sales for repo and collateral management, Christian Geiger, adds: “Triparty collateral arrangements are especially important for the Uncleared Margin Rules (UMR). SIX has seen an increasing client demand with the final phase of UMR coming into force this September. To support our clients, SIX offers Initial Margin Triparty Collateral Management as a fully integrated service in its web-based Collateral CockpitTM.
“Several clients are already using our user-friendly service that also offers a direct link to the major margin calculation agents and margin transfer utilities, allowing them to leverage existing connections. The service is backed by an ISDA-reviewed custodian documentation.”
