Securities Financing Technology News | Exclusive: Pirum secures JP Morgan as first user of corporate actions service


Exclusive: Pirum secures JP Morgan as first user of corporate actions service

JP Morgan Agency Lending is now the first client of Pirum Systems’ new securities operations service CoacsConnect.

The service brings automation, efficiency, connectivity and enhanced oversight to a “critical area of ​​capital markets,” says Pirum.

Simon Heath, Head of Agency Loans for Europe, Middle East and Africa at JP
Morgan says, “Reducing operational drag, mitigating risk and improving efficiency throughout the business lifecycle are intrinsic to the success of our business.

“We look forward to working with Pirum and our borrowers to increase efficiency in this area in the future. ”

With the new tool, Pirum aims to provide a straightforward process for the creation, publication and dissemination of complaint notifications with comprehensive workflow tools to manage the full lifecycle of events.

Pirum CEO Philip Morgan said: “This is an exciting development for Pirum as we, with the full support of the industry, continue to evolve our post-trade services in the trading space. securities transactions.

“This is the first step in what will become a comprehensive offering for the securities financing market and is another solution launched as part of Pirum’s ‘Future Tech’ initiative. ”

Pirum says it is collaborating with “several innovative market players” that are part of its Future Tech initiative and will be making a series of similar announcements in the coming weeks.

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