• inside_market_data
  • inside_reference_data
  • buy_side_technology
  • sell_side_technology
vienna
Vienna

Lombard Risk's Colline Making Inroads in Vienna

  • Send
  • Comment
  • Send to Kindle

Risk management firm signs deal with Austrian bank BAWAG P.S.K. for collateral management solution.

Lombard Risk Management, a London-based provider of financial services and reporting solutions, has announced that BAWAG P.S.K. (Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft), one of the largest banks in Austria with assets of €41 billion, will begin using its Colline collateral management and central counterparty clearing (CCP) solution later this year.

BAWAG is traditionally a retail bank; however the deal is reflective of its increased foray into collateralized trading activity, which requires stronger credit risk mitigation as well as increased reporting as required by European regulators. Colline, the partners say, will satisfy each of those requirements, and is implementable for use across OTC derivatives, repos, and securities lending products.

"Automating the management of our collateralized business will enable us to use collateral most efficiently and provide our clients with an accurate and reliable service.  Plus, BAWAG P.S.K. will benefit from better risk management and enhanced regulatory compliance," says Wolfgang Hanzl, Head of Operations at BAWAG P.S.K.

For Lombard Risk, the signing represents continued growth in Central Europe. "This is now our third Colline implementation in Vienna, and part of an even larger client base across the German-speaking region, where we see more future growth in the coming years," notes Martin Heraghty, the firm's sales director for EMEA.

The bank says it will implement the solution by September.

 

 

  • Send
  • Comment
  • Send to Kindle

More from Sell Side Technology

Sign-up for WatersTechnology email newsletters

Register for regular alerts to receive up-to-date news directly into your inbox

Related Articles

Latest Media

Events

Visitor comments Add your comment

  

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions Your comment will be moderated before publication

Submit your comment

Winner's Announced: Sell-Side Technology Awards 2014

View the winners...

The winners of the 2nd annual Sell-Side Technology Awards 2014 were announced in New York on April 15. These awards recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 24 categories click here.

sst-awards-2014

Latest Whitepapers

waters-equinix-whitepaper-may2014

Tackling Teething Troubles: Examining the Current State of the OTC Derivatives Market

The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...

eagle-whitepaper-jan2014

A data-centric approach to portfolio management

A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....