State Street's Charles River and AcadiaSoft form business alliance
January 11, 2019
Garrett A. Wollman - The Archives @ BostonRadio.org

Charles River Development, a State Street Company, and AcadiaSoft Inc, have announced a business alliance to automate communication of margin calls and collateral estimates between counterparties in the Charles River Investment Management Solution (Charles River IMS) for OTC and exchange-traded derivatives.

EMIR, Dodd-Frank, OSFO-BSIF, and other regulations based on the Basel/IOSCO policy framework have increased collateral and margin requirements for non-centrally cleared derivatives. This has also led to a significant increase in margin call volumes.

"Manual processing is error-prone, costly and is too unwieldy and risky to support current and emerging regulations," said Scott Fitzpatrick, Director Collateral Business and Client Operations of AcadiaSoft. "MarginSphere provides a central margin service for the industry that replaces email and other manual, proprietary practices with an automated, standard and verifiable electronic process for all parties."

"Our partnerships with leading providers of collateral management services help our clients keep pace with new regulations governing OTC derivatives," said John Plansky, CEO, Charles River.

"With derivatives seeing increased use by institutional portfolio managers, the alliance with AcadiaSoft helps our clients seamlessly support the full lifecycle of these instruments."

Charles River was acquired by State Street Corporation in October 2018 and the combined companies are developing the industry's first ever global front-to-back investment servicing platform to enable investment workflows, provide advanced data aggregation, analytics and compliance tools, and connect and exchange data with other industry platforms and providers.





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Charles River Development, a State Street Company, and AcadiaSoft Inc, have announced a business alliance to automate communication of margin calls and collateral estimates between counterparties in the Charles River Investment Management Solution (Charles River IMS) for OTC and exchange-traded derivatives.

EMIR, Dodd-Frank, OSFO-BSIF, and other regulations based on the Basel/IOSCO policy framework have increased collateral and margin requirements for non-centrally cleared derivatives. This has also led to a significant increase in margin call volumes.

"Manual processing is error-prone, costly and is too unwieldy and risky to support current and emerging regulations," said Scott Fitzpatrick, Director Collateral Business and Client Operations of AcadiaSoft. "MarginSphere provides a central margin service for the industry that replaces email and other manual, proprietary practices with an automated, standard and verifiable electronic process for all parties."

"Our partnerships with leading providers of collateral management services help our clients keep pace with new regulations governing OTC derivatives," said John Plansky, CEO, Charles River.

"With derivatives seeing increased use by institutional portfolio managers, the alliance with AcadiaSoft helps our clients seamlessly support the full lifecycle of these instruments."

Charles River was acquired by State Street Corporation in October 2018 and the combined companies are developing the industry's first ever global front-to-back investment servicing platform to enable investment workflows, provide advanced data aggregation, analytics and compliance tools, and connect and exchange data with other industry platforms and providers.



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