Chris Walsh, AcadiaSoft
Norwell, MA - AcadiaSoft, the provider of margin automation solutions for counterparties engaged in collateral exchange, has acquired ProtoColl, an end-to-end collateral and margin management service, from The Depository Trust & Clearing Corporation (DTCC). Terms of the deal were not disclosed.
In March 2017 some buy-side firms and smaller banks will become subject to new variation margin (VM) rules for non-cleared OTC derivatives that went into effect September 1 for the largest global banks, all 24 of which are using the AcadiaSoft Hub in order to comply.
Chris Walsh, CEO of AcadiaSoft said: "The combination of AcadiaSoft and Protocoll creates an end-to-end risk management solution that is a major step toward the industry's goal of automating the entire margining process on a single platform."
Mark Demo, Product Director for AcadiaSoft said: "Small to mid-sized firms now have the basic margin functionality required to automate; large banks get the long-term platform required to substantially reduce costs; and firms of all types and sizes can reduce disputes to manageable levels using standardized data, calculation methods and workflows."