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European wealth and asset manager Banque Pictet & Cie SA has gone live with capital markets software vendor Calypso Technology’s collateral management solution, officials say.
Banque Pictet will use Calypso’s platform to “consolidate all collateral activities across its many businesses on a single platform,” according to the vendor. The platform is a “standalone, centralized collateral management system aggregating collateral pools from the bank’s core banking system for processing margin calls.”
Banque Pictet, headquartered in Geneva, Switzerland, has more than $437 billion in assets under management (AUM), bank officials say. The bank’s previously collateral management solution “was largely manual, and unable to scale with the growing business and associated customer agreements,” according to Calypso, and was also unable to keep up with new regulations.
The new solution “met the functional requirements and demonstrated an outstanding ability to interface to Pictet’s core banking system and key downstream systems such as AcadiaSoft for margin call confirmations and messaging for collateral pledges,” according to Calypso.
Need a Reprint?- Read More:
- Banque Pictet & Cie,
- CFTC,
- Calypso Technology,
- Dodd-Frank,
- OTC derivatives,
- SEC,
- collateral management,
- compliance,
- operations
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