Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Pirum Automates Daily Triparty Required Value (RQV) Processing

Date 04/05/2012

Pirum are pleased to announce the production deployment of phase 1 of their new Triparty Required Value processing service (RQV). This new functionality offers a single solution covering the calculation, agreement, and processing of daily RQVs for all Triparty Agents and across all counterparties, whether users of Pirum or not.

Daily RQVs for securities lending portfolios will be calculated by Pirum using clients’ own data and rounding rules. The new service improves the intraday visibility of proposed RQVs, facilitating much simpler and more timely dispute resolution amongst market participants. It also provides a single unified process for operations teams to use when agreeing and communicating RQVs to individual Triparty Agents.

“Pirum is delighted to add automated processing of Triparty RQVs as an extension to its unique and innovative real time exposure reconciliation service.” said Rupert Perry, chief executive of Pirum. “The new service automates an operational process which today requires significant manual work whilst simultaneously improving control in ensuring exposures are correctly collateralised”.

Additional releases are planned over the coming months which will further extend automation of RQV processing via direct interfaces with both BNY Mellon and JP Morgan.