Wilmington Trust, a provider of corporate and institutional services including custody and collateral solutions for a wide variety of financial institutions, insurance companies, health care organizations, educational institutions, and publicly traded entities in the United States, has engaged AcadiaSoft to launch a new “Margin Management” service for clients.
Wilmington Trust’s Margin Management is designed to assist clients in satisfying their margin and collateral obligations arising from derivatives, repurchase agreements, TBAs, and other bilateral agreements. Margin Management enables Wilmington Trust to support all aspects of the margin and collateral process with limited client involvement, as a fully outsourced solution.
We approached AcadiaSoft because their suite of products provided an integrated solution for our new Margin Management service,” said Scott Linden, Wilmington Trust’s managing director for Collateral Management. “AcadiaSoft’s ProtoColl and MarginSphere services enable our team of custody administration specialists to manage the growing client demand for margin and collateral solutions.
The key benefits of Wilmington Trust’s Margin Management service are that it:
- Uses a trusted service provider and custodian to manage all aspects of the margin and collateral process;
- Greatly reduces the need for the client’s operational and technology resources in the collateral process; and
- Provides the client with volume insensitivity as their trading demands and/or market volatility increase.
Sarah Powers, North America Sales Director for AcadiaSoft, added:
AcadiaSoft works hard to earn our clients’ trust each day. Wilmington Trust’s decision to use our services is validation of our client-first approach.
Wilmington Trust’s Margin Management service will be available to their clients in early 2018. The Wilmington Trust appointment is part of AcadiaSoft’s wider success with ProtoColl and marks the eighth such appointment in the last 12 months.
AcadiaSoft, the provider of margin automation solutions for counterparties engaged in collateral exchange, acquired ProtoColl in November 2016 and has since integrated the end-to-end collateral and margin management service into the AcadiaSoft Hub. ProtoColl automatically calculates excess and deficient margin requirements for each active agreement, in addition to generating all necessary margin calls and associated notifications.