Acadia announces successful onboarding of Phase 5 Initial Margin (IM) firms to its AcadiaPlus platform.
Over 300 of an estimated 330 counterparty groups, covered by Phase 5 of the (IM) rollout under the Uncleared Margin Rules (UMR), have joined the platform. Acadia has now integrated the vast majority of counterparty groups covered by IM Phases 1 through 5 onto its platform.
AcadiaPlus encompasses the company’s flagship services that assist clients in complying with UMR, including Initial Margin Exposure Manager (IMEM), and Margin Manager, as well
as two new services, IM Risk Generator (IMRG) and IM Threshold Monitor (IMTM).
These services provide a central source of standardised data, reconciliation, dispute resolution and threshold monitoring for the industry.
Onboarded firms are encompassing approximately 2,000 new Regulatory IM CSA agreements and over 5,000 new Regulatory monitor agreements for Phase 5 of the regulatory framework, which was established by the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO).
All firms are using either IMTM for the monitoring of regulatory IM exposure as well as, or instead of, IMEM for the calculation and reconciliation of IM exposure, leveraging either the ISDA SIMM or schedule method.
Commenting on the news, Acadia CEO Chris Walsh says: “We are very proud of our achievements in partnering with the industry on this monumental task in building our cutting-edge platform that nearly all in-scope firms to date are using.
“We worked hand-in-hand with our global client base to develop a comprehensive suite of
solutions that break down complexity and cost. As a result, Phase 6 firms will now be able to
leverage all that we’ve already accomplished with AcadiaPlus, enjoying maximum benefit at minimum cost.”
“Acadia is a vital resource for in-scope firms,” added Mark Demo, head of community development at Acadia. “We held regular working group meetings for IM Phase 5 throughout the past two years, as well as providing an IM Soft Launch program to offer step-by-step guidance and share lessons learned from the earlier phases. We have already started this process for Phase 6 firms. There is no reason for these firms to go at this alone.”
