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November 17, 2011

MarginSphere opened up (automated margin calls)

For some time now ISDA, it’s members and AcadiaSoft have been working to eliminate the manual part of margin calls – people, emails and FAX. Making a margin call is now more critical than ever, and relying on unstructured methods isn’t good enough. AcadiaSoft have developed a messaging standard and infrastructure to automate the process, which until now has been in ‘beta’ with Deutsche Bank, HSBC, Goldman Sachs and JP Morgan.

The platform is now open to new joiners, having been hammered for a while privately to ensure the service stands up to operational demands. With the push towards clearing, and the increasing urgency to post margin, this automation can’t come too soon. Once CCPs and intermediaries get plugged into a platform like this, players in the OTC market stand a chance of tracking, and responding to margin calls in a more coordinated way.

Full story here, AcadiaSoft here.

(Just noticed that AcadiaSoft’s UK office is the same address as Markit, which helps their efforts to build a link between their two platforms, you can stretch a long Ethernet wire between the two floors.)


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