AcadiaSoft has partnered with OpenGamma to integrate its initial margin calculation and reconciliation service with a risk sensitivities generation service to help compliance with phases 5 and 6 of the Uncleared Margin Rules (UMR).
As a provider of risk and collateral management, AcadiaSoft clients will benefit from OpenGamma’s services of automated input file feeds and AcadiaSoft’s initial margin exposure manager for daily reconciliation with counterparties also subjected to UMR.
Fred Dassori, chief product officer at AcadiaSoft, commented: “As we continue to work across the industry to make UMR compliance less burdensome for phase 5 and 6 clients, this partnership with OpenGamma is a natural fit. Bringing OpenGamma into the AcadiaSoft network will enable our common clients to meet the requirements of the new rules efficiently and seamlessly.”
Peter Rippon, CEO of OpenGamma, added: “We are pleased to be joining forces with AcadiaSoft in our quest to make complex UMR regulatory compliance as easy and cost-effective as possible. Bringing together our established services for this common purpose has been well-received by clients and is a testament to our mutual commitment to support industry initiatives designed to integrate proven, best-in-class service providers.”
In April, AcadiaSoft also entered into a new initial margin partnership with Cassini Systems,a provider of pre- and post-trade margin analytics for derivatives market participants.