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Technology provider FIA Tech has launched the FIA Tech Cash and Collateral reference data service, a globally collated data set.
The data is sourced from FIA Tech’s central counterparty (CCP) partners and will be available on FIA Tech’s Databank Network.
The data set offers a standardised, aggregated view of collateral instruments, accepted by CCPs.
The data set eliminates the manual process of extracting and passing exchange and CCP information for futures commission merchants and their clients.
The service also provides crucial data points such as haircuts, concentration limits and collateral management fees.
At launch, the data set will be accessible to several global clearing firms that manage more than US$120 billion of collateral, held by customers for trading futures in the US.
Andrew Castello, head of reference data at FIA Tech, says: "Inefficiencies in data sourcing waste valuable time, effort, and resources. FIA Tech’s newest Cash and Collateral initiative is designed to dramatically reduce manual data collection and significantly improve operational processing.”
“Particularly in times of market volatility and inflation, it is crucial that firms understand and accurately capture CCP acceptable collateral, haircuts, interest rates, and fees to strategically optimise their margin calls."
