OMGEO addresses new collateral management requirements
First Published 18th June 2012
New functionality developed in Omgeo ProtoColl to address challenges of new derivatives clearing environment
New York, Boston, London, Hong Kong - Omgeo, has announced the availability of new functionality on Omgeo ProtoColl®, its automated collateral management solution. The new version of ProtoColl has been developed to help market participants manage their collateral and risk management operations ahead of the implementation of complex regulatory requirements for over-the-counter (OTC) derivatives clearing.
The newest ProtoColl enhancements, available in version 7.5, are intended to provide market participants with a single, holistic view of their collateral exposures across bilateral and centrally cleared (CCP) OTC derivatives trades, as well as exchange traded derivatives and other collateral-related transactions such as repurchase agreements and securities lending activities. Users can manage the entire collateral life-cycle with ProtoColl, allowing them to execute counterparty risk management procedures and demonstrate the results to regulators and investors.
Ted Leveroni, Executive Director of Derivatives Strategy and External Relations at Omgeo, stated: "We are seeing increased focus on automated collateral solutions as firms recognize that they need to act now to prepare their internal processes ahead of the implementation of new regulatory mandates including Dodd-Frank and EMIR. While the regulations are still to be finalized, there will always be the need for both bilateral and centrally cleared capabilities and ProtoColl gives clients the ability to manage both from a single platform today."
Added Leveroni "ProtoColl provides the operational efficiency that can be gained from a true multi-class, exceptions based workflow solution. Automating the collateral management process for OTC and exchange traded derivatives provides users with a scalable operation that can be adapted to further change and growth in the derivatives markets."