July 11, 2019

Cardano Goes Live on CloudMargin Collateral Management Platform

Pension Risk and Investment Management Specialist Turns to CloudMargin for Increased Automation, Reduced Operational Risk in Clients’ Bilateral and Cleared OTC Activity

CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, today announced that the Cardano Group, the pensions risk and investment management specialist, has gone live on its platform. With operations in the UK and the Netherlands, Cardano turned to CloudMargin as the underlying platform for its collateral management capabilities, providing a more automated, secure and connected solution for pension fund clients’ bilateral and cleared over-the-counter (OTC) activity. 

Previously, Cardano offered its own in-house collateral management solution. The migration to CloudMargin’s cloud-based offering enables Cardano to focus on providing enhanced services to its clients, while reducing operational risk across the business. With the integration of CloudMargin, Cardano will leverage various complementary service providers across the collateral lifecycle, including AcadiaSoft, GlobalCollateral’s Margin Transit Utility (MTU) and SWIFT. The company will also be adding its cleared OTC activity to the platform in the near future.

Jarno Bostelaar, Group Head of Operations for Cardano, said: “With our growing client base, we have been seeking a collateral management solution that fits all our clients’ requirements under various technological, regulatory, economic, risk and operational scenarios. Robust risk management, high quality standards and continuous improvement are at the heart of our culture, and we believe CloudMargin’s vision is perfectly aligned. The CloudMargin collateral management solution gives us the flexibility to meet all our client objectives and significantly improves our operational lives.”

Stuart Connolly, CloudMargin CEO, said: “We are delighted to welcome Cardano into our community and look forward to our partnership. Cardano is an extremely thoughtful and forward-thinking organisation so we consider this another great reinforcement of our strategy. CloudMargin offers the firm the ability to automate key functions, including margin call management, settlement messaging and asset selection, along with optimisation. As pension funds are grappling with increased volume of OTC transactions, and increased complexity of securities used as collateral, we are able to add value to these processes by providing the applicable tooling to them.

Bostelaar added: “The introduction of CloudMargin and complementary service providers is a next step to further straight-through processing and industrialisation of the entire collateral management value chain. With this partnership, we feel comfortable that we will be able to tackle all upcoming challenges within the complex and exciting world of collateral management.”

About the Cardano Group

Founded in 2000, Cardano Group is a privately-owned, purpose-built risk and investment specialist, and a financial pioneer. Cardano believes an integrated approach to different risks helps to highlight actions needed to make more balanced decisions and results in better outcomes for pension members, scheme trustees, corporate sponsors and their shareholders.

They are widely recognised as a market leader in the provision of specialised services to private-sector and collective pension schemes in the United Kingdom and the Netherlands. Their 350 professionals strive to deliver better and more secure financial outcomes to over 30,000 businesses and 1.7 million pension savers: stability in an uncertain world.

The Cardano Group also includes Lincoln Pensions, the sponsor covenant adviser, and in 2019, Cardano agreed the acquisition of NOW: Pensions, the third largest auto-enrolment provider in the UK.

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