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CloudMargin and Ivno have entered into a strategic partnership that leverages Ivno’s distributed ledger technology (DLT) and CloudMargin’s collateral management capabilities.
The partnership will enable market participants to benefit from minimising transfer costs, settlement failures and cash trapped in transit while optimising liquidity via tokenisation solutions.
CloudMargin says it will deliver significantly improved operational and treasury efficiencies.
The proposition combines Ivno's DLT tokenisation and CloudMargin's cloud-based collateral management platform. Market participants will have the ability to Tokenise cash, cash equivalent and high-quality liquid assets (HQLA) to use for collateral.
Aaron Grantham, CEO of Ivno, says: “Working in partnership with CloudMargin will enable our shared clients to leverage the benefits of a world-class team and technology by providing a highly innovative solution which delivers tangible value to their business."
Simon Millington, global head of business development at CloudMargin, says: “CloudMargin has always strived to be at the forefront of modern technology initiatives within collateral management.”
He adds: “We believe that Ivno’s Tokenisation technology represents a practical application of blockchain technology to solve settlement challenges within collateral management; it offers a compelling use case that gives firms a centralised, secure ledger where all parties — counterparties and their respective custodians — have access to the same information to settle instantly, thereby accelerating the settlement process. We are excited to work with Ivno to begin delivering this unprecedented service to the industry.”
CloudMargin and Ivno have successfully completed initial testing on the initiative and validated workflows for secure settlement between the two technology providers.
The partners are now seeking firms aiming to gain benefits from the compression of their settlement cycles to be part of the larger proof-of-concept.
