NEED TO TRANSFORM?
We are a practitioner-led Management & IT consultancy that brings deep and deliberate expertise to the financial services sector's Margin, Collateral and Legal domains. Our consultants help clients to provide strategy, insight, training and delivery across derivatives, repo and securities lending.
Our senior industry practitioners and transformative service model reduce the time to market on key revenue ideas and brings clarity to regulatory demands and competitive advantage to your most challenging problems.
All products exchange-traded, cleared and uncleared derivatives, repo and securities lending needs to be led by well-defined business objectives supported by efficient and cost-effective technology.
Risk and operational functions need industry connected systems to support straight-through processing and an environment where governance, controls and regulatory compliance are paramount and understood.
Margin Reform will bring clarity to your understanding of all aspects of collateral such as pricing, funding, liquidity, optimisation, operational capacity and risk.
Whether to support business P&L, cost drivers, regulations, or enhancing existing processes and requirements such as Clearing, Initial Margin, Reporting, Custody and Optimization are a necessity.
The complexity and far-reaching impact of G20 regulatory reforms (Clearing, UMR, SFTR, CSDR & IBOR) have led to a market understanding that data is critical and this requires improved negotiation techniques, smarter technology and increased digitisation.
Margin Reform is at the forefront of these solutions and can help you deliver the required technological and business process models.
The 'Wheel of Pain' highlights the key steps, risks, issues and pitfalls which need to be addressed
Early engagement with clients, vendors and custodians
Market impact and outcomes with regulators requirements
Central co-ordination to manage your group wide compliance delivery
Regulatory impact on role and BAU know-how for stakeholders
THE WHEEL OF PAIN
For firms impacted by UMR regulatory change needs to be solved over short period of time. This requires a fundamental re-design of your collateral management model to recalibrate, enhance and optimise your approach from the traditional credit mitigation role and springboard collateral as a key value driver for the firm.
Identify subjected products and trades, calculate your group AANA and formally self-disclose all impacted relationships to the industry.
Determine your trading partners, establish jurisdictional compliance and exchange responses for your bilateral margin requirements.
Complete an internal examination of the rules per jurisdiction, identify gaps, risks and create mitigation plans as part of self-attestation.
Negotiate and match eligible collateral schedules and utilise golden terms to drive processing.
Agree how to pledge Initial Margin through your custodian and onboard with your counterparty's agent. Negotiate, execute, test and configure internally and externally.
Determine the impact on collateral processing, settlement, reconciliations, connectivity to internal functions and the external collateral ECO system.
Operating model design and implementation to support new processes, increased volumes and the management of risk and compliance.
Understand the impact of collateral usage on your balance sheet, funding and liquidity metrics. Transform and mobilise collateral in support of P&L generation.
IM Model Governance
Determine the IM model and calculation approach. Develop, integrate and test all requirements including any backtesting, benchmarking, documentation, governance and validation.
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’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 collaborates with Margin Reform to offer professional services clients a highly flexible, scalable and affordable cloud-based collateral management software.
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 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, 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.
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.
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 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.