Pirum has released a new Trade Risk Manager service in advance of the live date for the Central Securities Depository Regulation (CSDR) settlement discipline regime, which is scheduled for 1 February 2022.
Trade Risk Manager offers front-office risk management and workflow functions, including dashboards that enable users to monitor their live risk, along with workflow tools that allow them to communicate their risk status — and, when necessary, to escalate and resolve this risk — across the full post-trade process.
This relates to risks associated with the CSDR settlement discipline regime, for example the risk of settlement fines relating to failed trades, but also addresses a wider set of post-trade risks.
The service has been developed and launched in partnership with more than 20 global prime brokerage and agent lender clients, each of which provided input to the product roadmap.
This forms part of Pirum’s service portfolio offering automation of the post-trade and collateral lifecycle across repo and stock loan transactions, supported from a secure, centralised automation and connectivity hub for global securities finance transactions.
Pirum's global head of product Robert Frost says: “We are hugely excited to launch the Trade Risk Manager in partnership with our clients, with whom we have worked closely to identify the common challenges and manual processes that require automated solutions.
“Trade Risk Manager is an industry first. It is one of several planned products and features that we are launching as part of our FutureTech Initiative as we continue to automate processes across the securities finance trade lifecycle.
Phil Morgan, CEO at Pirum, says: “CSDR is undoubtedly a headwind for our industry. However, it is making us all re-focus on the operating ecosystem and the inefficiencies that still abound. Trade Risk Manager is a very positive step in our collective aim of automating the complete workflow in securities finance.”
For further information on Pirum’s Trade Risk Manager service and the company’s FutureTech Initiative, please refer to our interview with Philip Morgan and Robert Frost.
