Lombard Risk Management plc has been named the “Collateral Technology Vendor of the Year” in the 2014 Custody Risk European Awards.
Lombard Risk, a leading provider of integrated collateral management, regulatory compliance and reporting solutions for the financial services industry, won the Custody Risk European award for its solution COLLINE.
COLLINE provides firms with a comprehensive end-to-end collateral management, clearing, inventory management and optimisation solution—supporting both house and client-clearing for direct and indirect clearers, and offers flexible functionality, with rule builders, to enable clients to manage their ongoing requirements and reduce counterparty risk.
With regulation such as Dodd-Frank/EMIR, Basel III imposing stricter capital and liquidity requirements, along with the International Organization of Securities Commissions (IOSCO) working with the Basel Committee on Banking Supervision (BCBS) to outline initial margin requirements, the financial industry faces a growing collateral challenge.
COLLINE enables firms to move away from managing collateral in business silos by supporting multiple business lines on a single platform therefore enabling firms to significantly better manage their collateral inventory and optimise to ensure the best use of it—addressing the issues of limited liquidity and lower capital charges.
Contributing to its award win, COLLINE version 13 was recently released with enhancements and new functionality which includes: Regulatory Enhancements to support clients in meeting their IOSCO and Basel III regulatory commitments; a user-definable Optimisation Rule Builder used to create and combine optimisation rules for flexible scenario analysis and optimum allocation of collateral; a configurable Inventory Manager providing real-time scenario analysis across financial products and business lines in order to best manage collateral inventory on a firm-wide basis; and an enhanced Collateral Substitution Workflow automating complex, time-consuming manual processes related to substitutions enabling managers to deal with high volumes more efficiently.
Lombard Risk CEO and Founder John Wisbey said: “We are very pleased to have our efforts recognised by the industry in the Custody Risk award.
“This award is a true testament to Lombard Risk’s commitment to providing regulatory, risk and compliance solutions for over 25 years whichimprove efficiency and reduce risk across global financial markets, as well as to the excellence we endeavour for our COLLINE collateral management solution.
”We were also delighted to see that four of the other Custody Risk award winning firms use COLLINE as part of their collateral management infrastructure.”