CloudMargin teams up with Nasdaq Clearing on collateral management

London-based CloudMargin has incorporated Nasdaq Clearing into the CloudMargin collateral management platform. This means the two products will operate seamlessly to streamline collateral-related communications via Nasdaq Clearing using CloudMargin for collateral management. Benefits include ready issuance of the latest reports, eligibility schedules, messages and instructions.

“We believe this type of interoperability will set a standard for the industry going forward,” said Lee McCormack, CloudMargin’s head of strategy. “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.

Interoperability between Nasdaq and CloudMargin holds the potential to ease communication across market participants, whether clearing firms or the buy-side, while offering buy-side customers the opportunity for one-stop collateral management.

“Innovative and capital-efficient solutions are at the heart of what we do at Nasdaq Clearing,” said Nasdaq’s Fredrik Ekström. “CloudMargin’s effective and seamless web-based solution enables our clients to manage margin collateral across clearing houses and bi-lateral counterparts. Nasdaq Clearing believes that distribution of risk is a key factor in protecting the financial sector from systemic risks. The CloudMargin offering supports such infrastructure in an efficient way.”