OpenGamma, CloudMargin Partner on Portal for OTC Derivatives Clearing Mandate
OpenGamma partners with CloudMargin to deliver independent validation of initial margin of OTC trades.
In preparation for central clearing for OTC derivatives trading, OpenGamma will provide independent validation of the initial margin of OTC trades for CloudMargin clients to meet the needd for increased risk management. CloudMargin clients will be provided with a single portal to validate clearing house margin calls from clearing brokers.
"As mandatory OTC derivative clearing is introduced to the buy side, firms with OTC derivative positions will be subject to regular posting of margin to their brokers," says Dave Wong, head of buy-side strategy at OpenGamma. "The CloudMargin/OpenGamma solution will allow those firms to independently validate and understand the margin they are charged by the CCPs."
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