Lee McCormack, CloudMargin
London and New York - CloudMargin, the provider of a web-based collateral and margin management solution, has announced that Nasdaq Clearing has been included into the CloudMargin platform.
This will provide Nasdaq Clearing's clients with a collateral management solution for collateralising cleared derivatives products. Under the arrangement, CloudMargin and Nasdaq Clearing are establishing interoperability intended to enhance and streamline Nasdaq Clearing's collateral-related communications, including issuance of the most up-to-date eligibility schedules, reports, messages and instructions.
The arrangement between Nasdaq and CloudMargin aims to promote more efficient communication between all market participants, including clearing firms and buy-side institutions, and enable buy-side customers to manage their cleared and non-cleared collateral margin activity through one centralised platform.
Lee McCormack CloudMargin Head of Strategy, said: "We believe this type of interoperability will set a standard for the industry going forward. CloudMargin's unique ability to offer a consolidated view and management of collateral needs is increasingly important as the volumes of margin movements rocket for both cleared and uncleared trades.