AcadiaSoft partners with OpenGamma on UMR 01 July 2020London Reporter: Rebecca Delaney
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AcadiaSoft has partnered with OpenGamma to integrate its initial margin calculation and reconciliation service with a risk sensitivities generation service to help compliance with phases five and six of the Uncleared Margin Rules (UMR).
As a provider of risk and collateral management, AcadiaSoft clients will benefit from OpenGamma鈥檚 services of automated input file feeds and AcadiaSoft鈥檚 initial margin exposure manager for daily reconciliation with counterparties also subjected to UMR.
Fred Dassori, chief product officer at AcadiaSoft, comments: 鈥淎s we continue to work across the industry to make UMR compliance less burdensome for phase five and six clients, this partnership with OpenGamma is a natural fit.
"Bringing OpenGamma into the AcadiaSoft network will enable our common clients to meet the requirements of the new rules efficiently and seamlessly.鈥�
Peter Rippon, CEO of OpenGamma, adds: 鈥淏ringing together our established services for this common purpose has been well-received by clients and is a testament to our mutual commitment to support industry initiatives designed to integrate proven, best-in-class service providers.鈥�
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