CloudMargin and Deutsche Bank have partnered to integrate the CloudMargin platform into Deutsche Bank’s collateral infrastructure. CloudMargin clients will be automatically connected to an online hub with a community of upstream and downstream partners who will add straight-through processing opportunities.
The initiative is expected to improve client experience by creating a networked solution for Deutsche Bank’s collateral management.
The transition to CloudMargin cloud-based platform also means that Deutsche Bank and its clients will have access to the same information about the obligations and required actions for their cleared and non-cleared over-the-counter (OTC) transactions.
According to CloudMargin, this transparency will significantly reduce manual intervention and eliminate discrepancies that would otherwise take time and resources to resolve.
Joseph Macdonald, global head of collateral optimisation trading for Deutsche Bank, said: “Moving our collateral and margin management on to an online platform means that we and our clients will enjoy a reduction in risk and resource-draining emails and calls.”
He added: “The movement of our collateral management programme to CloudMargin is also in line with a number of the bank’s goals—enhancing our client service, being technology-led and improving efficiency. The cloud platform will give us a cost-effective means of servicing our clients, regardless of their size.”
Steve Husk, CEO of CloudMargin, said: “We’re delighted to team up with Deutsche Bank on this initiative to manage not only its global collateral needs but those of its clients of all sizes trading a broad range of instruments.”
He added: “Deutsche Bank interacts with virtually every other major bank as a counterparty, and its clients range from the world’s largest institutions to smaller buy-side market participants. Our solution enables the sell-side institution to provide the same high-quality service, efficiencies and transparency to everyone while achieving significant internal cost savings and operational improvements to these systemically important processes.”