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BNP Paribas Securities Services has announced its collaboration with the Depository Trust and Clearing Corporation (DTCC) to provide a solution which aids its clients in preparing for Phase 6 of the Uncleared Margin Rules (UMR).
The collaboration will see BNP Paribas’ Triparty Collateral Management solution connect with DTCC’s Margin Transit Utility service (MTU).
The MTU service was created to improve settlement efficiency and reduce operational complexity and risk for margin call processing.
This solution comes ahead of UMR initial margin wave 5, with an objective to ensure full, end-to-end straight-through processing connectivity, preparing the industry for regulatory deadlines and accelerating client efficiency.
Speaking on the announcement, Jerome Blais, co-head of Triparty Collateral services at BNP Paribas Securities Services, says: “We are excited to be live on DTCC’s MTU and allow our clients to reap the operational and technological benefits of a plug and play solution to manage their regulatory initial margin flows with BNP Paribas Securities Services as triparty collateral agent and custodian.”
