Why Margin reform?
Margin Reform helps clients operating in the financial sector to provide strategy, insight and delivery across derivatives, repo and securities lending for the margin, collateral and legal domains.
Our senior industry practitioners and transformative service model reduces the time to market on key revenue ideas, brings clarity to regulatory demands and competitive advantage to your most challenging problems.Margining
Collateral
Legal
months required to complete a UMR project
revenue opportunity p.a. for every €1bn of lent assets
of €20.6 trillion assets globally have been lent across asset classes*
*At Q3 2019 www.isla.co.ukNumber of data fields required for SFTR compliance
Number of firms expected to be impacted by SFTR
Number of new relationships subject to Phases 5 and 6 of UMR
The 'Wheel of Pain' highlights the key steps, risks, issues and pitfalls which need to be addressed
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External Comms
Early engagement with clients, vendors and custodians -
External Training
Market impact and outcomes with regulators requirements -
Internal Comms
Central co-ordination to manage your group wide compliance delivery -
Internal Training
Regulatory impact on role and BAU know-how for stakeholders
THE WHEEL OF PAIN
Self disclosure
Client Engagement
Rule Distillation
Legal Agreements
Custodial onboarding
Technology
Operations
Optimisation
IM Model Ownership
THE WHEEL OF PAIN
Self disclosure
Client Engagement
Rule Distillation
Legal Agreements
Custodial onboarding
Technology
Operations
Optimisation
IM Model Ownership
MEET OUR TEAM
Shaun Murray
Managing Director,
CEO
Shaun Murray is the Managing Director, CEO of Margin Reform. The former head of Collateral Strategy at RBS and SCB, Shaun is a seasoned professional with over 30 years of international experience. They have been spent focused on enterprise-wide collateral management, credit risk, funding, liquidity, and strategy, working in Europe, Asia, America, and Australia at Tier one banking institutions.
Chetan Joshi
Founder,
COO
Chetan Joshi is the Founder, COO of Margin Reform. Chetan has over 20 years’ experience across the Margin, Collateral and Legal domains, having held roles at RBS, JPMorgan Chase, Barclays, Bank of America Merrill Lynch and SCB in operations, change management, technology and front office and a previous consultancy role with Baringa Partners.
Sue McGillion-Moore
Americas
Partner
Sue McGillion-Moore is a Partner and the Americas Practice Lead for Margin Reform. Sue has over 25 years' of experience in Margin and Collateral Management, having held various senior level collateral roles at JP Morgan Chase, Bank of America Merrill Lynch, Bear Stearns, UBS, AIG, and KPMG supporting over the counter derivatives, exchange traded products, secured transactions, prime brokerage, fx, consumer and commercial insurance products. Sue specializes in defining and building out target operating models with respect to organization, governance, function, process, technology, people, and skill.
John Southgate
Senior,
Consultant
John Southgate is a senior consultant bringing over 20 years of banking experience in various front-office prime brokerage roles within global investment banks, including Salomon Brothers / Citigroup, Lehman Brothers, Nomura and most recently as head of derivatives & collateral product management for EMEA at Northern Trust.
With a very strong client-focus and experience across a range of businesses and client segments, John is passionate about helping clients navigate the plethora of direct and indirect challenges being faced as a result of increased regulatory intervention, whilst also keenly driving efficiencies within their operating models.
Dess Kabakova
Senior
Consultant
Dess Kabakova a senior consultant with over 15 years of consulting and operational experience, having worked with both buy and sell-side institutions focused on business transformation strategy and functional engineering and processing. In the collateral and margin domains, Dess has completed various technical design and implementation projects including T2S, central bank and asset management optimisation programmes. Dess leads European Business Development.
Christos Kalapothareas
Senior
Consultant
Christos Kalapothareas is a senior consultant with over 15 years’ experience in legal documentation. Holding roles with a mixture of Tier one banks and buy-side organisations, supporting Financial Markets and Treasury functions in derivatives and securities lending markets with playbooks and analytics for BAU and regulatory compliance projects such as MiFID, EMIR, UMR and IBOR.
Swati Joshi
Business
Manager
Swati Joshi a Business Manager of Margin Reform. Swati has over 20 years’ experience helping businesses operate in an efficient and cost-effective way. She has worked in multiple sectors, including financial services, telecommunications, and health care. She exemplifies strong best practices with a focus on client care.
Simon McKernan
Senior
Consultant
Simon McKernan is a senior consultant with over 20 years’ experience across Investment Banking and Wealth Management. The former Head of Collateral Operations at RBS, Simon has covered all aspects of collateral management operations, prime services, clearing, risk and regulatory change programmes. He has led and sponsored technology change and process agility across a range of Tier one institutions.
Sakti Narayan
Senior
Consultant
Sakti Narayan is a senior consultant with 16 years’ experience in technology, operational risk and business process optimisation across Investment Banking and Asset Management sectors. Starting in business intelligence software development, Sakti developed strategies to identify and optimise front office processes, and recently managed a greenfield project to design and implement an in-house securities lending programme for an investment manager.
Juliet Carter
Marketing
Consultant
Juliet Carter has over 14 years’ experience working within the financial, technology and not-for-profit sectors. She is a B2B marketing specialist with a track record in leading marketing strategies that win customers and drive sales and profit. Founder of Carter Consulting, a B2B marketing consultancy for start-ups and SMEs, advising numerous small to medium-sized companies with digital and offline business growth strategies. Juliet leads Strategic Marketing.
Yannick Lucas
Senior,
Consultant
Yannick Lucas is a senior consultant with over 30 years’ experience. Most recently Head of European Fixed Income at RBC, Yannick has held senior executive positions at several Tier one institutions. Yannick develops securities lending capabilities for Asset Managers and Pension Funds to generate Alpha and optimise their performance. Which includes trading, risk, legal, operational and regulatory issues.
Shaun Murray
Managing Director,
CEO
Chetan Joshi
Founder,
COO
Sue McGillion-Moore
Americas
Partner
John Southgate
Senior,
Consultant
Dess Kabakova
Senior
Consultant
Christos Kalapothareas
Senior
Consultant
Swati Joshi
Business
Manager
Simon McKernan
Senior
Consultant
Sakti Narayan
Senior
Consultant
Juliet Carter
Marketing
Consultant
Yannick Lucas
Senior,
Consultant
Shaun Murray
Managing Director,
CEO
Chetan Joshi
Founder,
COO
Sue McGillion-Moore
Americas
Partner
John Southgate
Senior,
Consultant
Dess Kabakova
Senior
Consultant
Christos Kalapothareas
Senior
Consultant
Swati Joshi
Business
Manager
Simon McKernan
Senior
Consultant
Sakti Narayan
Senior
Consultant
Juliet Carter
Marketing
Consultant
Yannick Lucas
Senior,
Consultant

InitialMargin.online
InitialMargin.online and Margin Reform have joined forces to offer a packaged consultancy model that will enable clients to work on all aspects of their UMR compliance. The partnership supports firms through the AANA calculation and validation into IM model calculations under Regulatory Grid/ ISDA SIMM and Initial Margin Threshold Monitoring backed by specialist collateral, margin and legal consultancy experts.

Cassini Systems
Cassini’s software services enhance front office trade decisions with visibility and analytics of post trade costs, and also provide post trade optimization and estimation tools for treasury and operations.

CloudMargin
CloudMargin collaborates with Margin Reform to offer professional services clients a highly flexible, scalable and affordable cloud-based collateral management software.

CubeLogic
CubeLogic delivers business intelligence enabled enterprise risk management solutions for all market risk, credit risk, liquidity risk and regulatory compliance exposures in energy, commodity and financial markets.

D2 Legal Technology
D2 Legal Technology (D2LT) is an award-winning legal data and change consulting firm acting as a trusted advisor to financial institutions on process, data and the use of technology to unlock business value through legal change.

OpenGamma
OpenGamma is a derivatives analytics firm with unparalleled expertise in OTC and ETD margin methodologies, backed by CME, JSCC, Accel and Dawn. Their team brings together a unique mix of practitioner, quantitative and software engineering expertise

OpenRisk Technologies
OpenRisk Technologies, Inc., is a provider of enterprise platform with a complementary suite of business-centric products to digitize, rationalize, and harvest any kind of complex unstructured data and events, enable process automation with rationalized data, and generate deep insights and connected data analytics. OpenRisk Margin and Collateral Management solution offers a near-zero-touch margin workflows on a chosen DLT along with interoperation between traditional and DLT applications.

Pirum
Founded in 2000 with the aim of developing the most comprehensive, highly functional and reliable range of electronic services for the wholesale securities finance market. Pirum serves as the central hub of a complex network of market participants, tri-party agents, CCPs, market data vendors and execution venues.
Servicematrix
Poor outcomes with service partners and other counterparties are a fundamental drag on realising your firm's strategic ambitions and mitigating risk. Uncover the critical service gaps with authoritative ServiceMatrix benchmarks.

SteelEye
SteelEye works closely with Margin Reform to reduce the complexity and cost of financial compliance by enabling clients to manage their regulatory obligations on a single platform and make better use of their data.

AcadiaSoft
AcadiaSoft, Inc. is the leading industry provider of risk and collateral management services for the non-cleared derivatives community. AcadiaPlus is a new generation open platform that provides the sell-side, the buy-side and fund administrators with specialist applications and a third-party partner ecosystem for the straight-through processing of the entire collateral, margin and risk mitigation lifecycle.
London Office
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White Collar Factory
1 Old Street Yard
London
EC1Y 8AF - +44 (0) 20 3662 8805 +44 (0) 794 727 6667 +44 (0) 745 830 0920
- info@marginreform.com
Send us a message
AMERICAS OFFICE
-
615 West Johnson Avenue,
Suite 202 Cheshire, Connecticut,
06410 United States - +1 (917) 216-5457 +1 (203) 227-7241
- info@marginreform.com
EUROPE OFFICE
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Palais Brongniart
28 Place de la Bourse,
Paris, 75 002, France - +33 (0)9 51 27 30 40 +33 (0)6 31 43 41 73
- info@marginreform.com