Lombard Risk's Colline Making Inroads in Vienna
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.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Waters Wrap: Quants, CDOs, and the blending of job titles
Anthony explains how a quant at a massive bank taking on the CDO title hints at larger industry changes.
Nasdaq to market new options strike listing tech to other exchanges
The exchange operator is experimenting with emerging technologies to determine which options strike prices belong in a crowded market, with hopes to sell the tech to its peers.
The IMD Wrap: Talk about ‘live’ data, NAFIS 2024 is here
This year’s North American Financial Information Summit takes place this week, with an expanded agenda. Max highlights some of the must-attend sessions and new topics. But first, a history lesson...
MarketAxess builds strategy around X-Pro
MarketAxess profits were down in Q1, but revenues were up and automation volume hit a record $94 billion.
Canada’s triparty repo launch aims to fill C$60bn void
Test trades on TMX/Clearstream platform represent “quantum leap” for creaking funding markets.
People Moves: NorQuant, Tradition, Duco, HKEx, SimCorp, Hazeltree, Xceptor, Broadridge, and more
A look at the past month’s people moves in the capital markets technology and data space.
Bank-led consortium takes aim at position reporting
Five banks, including Barclays, BNP Paribas, Goldman Sachs and HSBC, have joined forces to mitigate interpretation and implementation errors in position reporting disclosures.
This Week: BBH, AllianceBernstein add data solutions, Deutsche Börse-Nodal Exchange, and more
A summary of some of the latest financial technology news.