Lombard Risk Management and Broadridge Financial Solutions have formed a global alliance to address changing industry needs in the collateral management sector.
The firms noted that in recent years, factors such as global regulatory changes, tighter liquidity, a move towards greater transparency and the increasing cost of collateral have prompted firms to rethink their approach to collateral management.
The strategic partnership is a response to these changing markets and “will lead to the creation of powerful Broadridge integrated collateral management offerings, combining Lombard Risk’s best-in-breed technology with Broadridge’s industry-leading applications and infrastructure,” the firms promised.
“Through our collateral, clearing, repo and optimisation technology we have achieved a market-leading position, with significant amounts of collateral being handled through our platform and several Tier 1 banks on our client list,” said John Wisbey, founder and chief executive (CEO) of Lombard Risk.
“We are delighted that our firm and technology have been chosen by Broadridge to power their collateral management platform. Our alliance will extend the use of Lombard Risk’s technology and our joint expertise within key markets and segments, particularly in the important North American market,”
Michael Hopkins, president of securities processing solutions fixed income and risk at Broadridge, added: “Collateral management is a natural extension of Broadridge’s product portfolio. We process more than US$5 trillion of fixed income and equity trades on average per day and have a significant inventory of data already residing on our platforms.
“By partnering with Lombard Risk, we will deliver collateral management solutions that will provide capital markets and investment management firms with greater control over the changing market framework and create true strategic and economic value.”
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