SmartStream Technologies, the financial Transaction Lifecycle Management (TLM) solutions provider, has partnered with Acadia, a provider of integrated risk management and margin automation services for the derivatives community.
The partnership will enhance efficiencies for the processing and calculation of interest statements for TLM Collateral Management’s customers and associated counterparties.
SmartStream’s TLM Collateral Management is a comprehensive, automated data management solution that helps financial institutions lower the operational risks associated with collateral management programmes.
The solution will work alongside Acadia’s Interest Statements workflow, available via its industry-standard Margin Manager platform, and will dispatch interest statements, reconcile, and resolve issues with counterparties in a standardised messaging format.
According to SmartStream, this will remove the reliance on email exchanges and often lengthy, complicated dispute resolution by uploading statement data.
Additionally, Acadia’s matching engine will pair statements, highlight discrepancies, and produce final interest statements for clients and their relevant counterparties.
Jason Ang, program manager, TLM Collateral Management, SmartStream, states: “It is always essential to provide our clients with new technologies and improvements to their service.”
Ang explains: “TLM Collateral Management coupled with Acadia’s Margin Manager provides integration with a powerful collateral solution and a user-friendly dashboard, allowing for quick exception management, including a complete audit trail with final statements. It’s our duty to continue improving services for our clients and this is a great addition to our existing solution.”
Richard Barton, head of product management, Acadia, comments: “We are delighted to be working alongside SmartStream, who have successfully served clients in the collateral management space for years, and we are confident this will further enhance its service in many areas including: margin and risk mitigation – which will efficiently meet all sell-side, buy-side and fund administrator requirements.”