Securities Financing Technology News | Pirum Launches Trade Risk Manager Before Settlement Discipline Regime Goes Live


Pirum Launches Trade Risk Manager Before Settlement Discipline Regime Goes Live

Pirum has released a new Trade Risk Manager service ahead of the release date of the Central Regulation of Securities Depository Regulation (CSDR) Discipline Regime, which is scheduled for February 1, 2022.

Trade Risk Manager offers risk management and front-office workflow features, including dashboards that allow users to monitor their actual risk, as well as workflow tools that allow them to communicate their risk status – and, if necessary, to escalate and resolve this risk – through the full post-trade process.

This relates to the risks associated with the CSDR settlement discipline regime, for example the risk of settlement fines related to failed trades, but also addresses a broader set of post-trade risks.

The service was developed and launched in partnership with more than 20 global blue chip brokerage clients and lenders, each of whom have contributed to the product roadmap.

This is part of Pirum’s portfolio of services offering post-trade lifecycle automation and guarantees for repo and equity lending transactions, supported from an automation and connectivity hub. secure and centralized for global securities financing transactions.

Pirum Global Product Manager Robert Frost said: “We are extremely excited to launch the Business Risk Manager in partnership with our customers, with whom we have worked closely to identify common challenges and manual processes that require automated solutions.

“Trade Risk Manager is an industry first. This is one of many planned products and features that we are launching as part of our FutureTech initiative as we continue to automate processes throughout the financial securities transaction lifecycle.

Phil Morgan, CEO of Pirum, said: “CSDR is definitely a headwind for our industry. However, it forces us all to refocus on the operational ecosystem and the inefficiencies that still abound. Trade Risk Manager is a very positive step in our collective goal of automating the entire workflow in securities financing.

For more information on Pirum’s Trade Risk Manager service and the company’s FutureTech initiative, please refer to our interview with Philip Morgan and Robert Frost.


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