Elixium, a new all-to-all electronic collateral trading marketplace, and Pirum Systems, the market leader in real-time straight through processing (STP) to the securities finance industry, have partnered to provide seamless post-trade connectivity to clients.
The collaboration with Pirum Systems will enable Elixium’s clients to manage the complete post-trade lifecycle, including trade booking and down-stream connectivity to infrastructure providers such as tri-party agents and CCPs.
As regulatory initiatives continue to mandate the use of central clearing, demand for automated connectivity to post-trade services is increasing. Pirum Systems provide an advanced, centralised post-trade automation platform for the global securities finance industry, linking market participants with a range of post-trade infrastructure providers.
The integration of Pirum Systems’ market leading technology will enhance Elixium’s all-to-all marketplace, which enables participants to access high quality liquid assets that can be traded as collateral.
Elixium is designed to specifically address the impact of regulation, balance sheet pressures, and deteriorating levels of liquidity in the repo market by providing participants with collateralised liquidity on a fair, transparent, low-cost and equitable basis.
Ben Challice, Chief Operations Officer at Pirum comments: “We are excited to be working with Elixium’s innovative trading marketplace. Market connectivity and trade life-cycle management is core to Pirum’s product offering. Our ability to streamline the post-trade process from transacting on Elixium will enable growth of liquidity on their marketplace.”
Roberto Verrillo, Head of Markets and Strategy at Elixium comments: "Pirum’s STP post trade services are an impressive solution to help our clients to manage the lifecycle of trades done on the Elixium marketplace. We are looking forward to working with Pirum Systems."