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Pirum has announced enhancements to its collateral management service, Collateral Connect, by supporting its clients with their MiFID II collateral reporting requirements.
Clients are now able to report at scale, in the format and frequency required by regulators, to all their counterparts.
Under article 63 of MiFID II regulation, investment firms that hold client financial instruments or client funds are required to send, at least on a quarterly basis, a statement (in a durable medium) of those financial instruments or funds to each client.
Robert Frost, global head of product at Pirum says: “We continue to work closely with our clients to understand the evolving regulatory requirements that they are required to meet. We always look to leverage our extensive data and connectivity, and we have a track record of supporting our clients with highly automated solutions.”
