Fund Recs and CloudMargin, two financial services technology providers, have formed a partnership to offer a collateralmanagement and portfolio reconciliation platform.
The partnership aims to meet the needs of derivatives users seeking to improve processing efficiency, minimize risk and meet European Market Infrastructure Regulation (Emir) requirements.
Fund Recs will provide operational control and collateral dispute resolution tools, a requirement for regulatory compliance under Emir, into a single user interface with CloudMargin.
CloudMargin offers clients end-to-end collateral management workflow for a range of margined products, such as futures and options.
Andy Davies, chief executive office of CloudMargin, says clients are increasingly rejecting outdated financial technologies, due to high prices and slow implementation.
"They are looking for state of the art services that simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations," he says.
Alan Meaney, director of Fund Recs, adds: "The team at CloudMargin shares our vision for the new breed of financial services software – innovative, value creating and backed up by industry expertise."
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