Lombard Risk, the London-headquartered provider of collateral management, regulatory compliance, and reporting technology, and Lake Success, NY-based Broadridge Financial Solutions, have formed an alliance that will address capital markets firms’ collateral management needs.
Collateral management activities have, in recent years, risen to prominence ─ especially across the buy side ─ as a result of regulatory changes; tighter liquidity; a move toward greater transparency, especially across heretofore opaque and manually-intensive back-office functions; and the increasing cost of collateral, in the wake of the global financial crisis, prompting firms to evaluate their collateral management practices and the technology underpinning such activities.
This partnership will, according to the two vendors, lead to the creation of Broadridge integrated collateral management offerings, combining a number of Lombard Risk's incumbent collateral management offerings with Broadridge's applications and infrastructure.
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