Fungible Margin Model: Highlights from the ISF-ISLA Securities Finance Webinar Series

On July 9, 2020, Bimal Kadikar, CEO of Transcend, spoke on the ISF-ISLA panel discussion on “COVID-19 & Chain Reactions: The Transmission of Effects Across Markets & Institutions.” The group discussed what has been expected and unexpected during the health crisis. And based on lessons learned what changes can be expected from business, operations and technology perspectives? Read more in the Global Investor article, “Covid could lead to fungible margin model – panel” for a recap on the discussion.

“Firms struggled to get a clear picture of their #collateral and margin exposures during the most volatile months of the crisis…We expect this to bring more focus to centrally coordinated collateralised businesses and operations.”

– Bimal Kadikar, CEO, Transcend

Panel participants were:

  • Mark Faulkner, Co-Founder, Credit Benchmark – Moderator
  • Nigel de Jong, Head of Sales and Relationship Management, RepoClear, LCH
  • Bimal Kadikar, Founder and CEO, Transcend
  • James Templeman, Global Head of SL Trading, BlackRock
  • Simon Sourigon, ED, Head of Global Securities Financing Americas, Natixis

QFC Delay: Regulator Likely to Reject Requests For Deadline Extension

Transcend CEO Bimal Kadikar spoke to Global Investor about the current status and approaching deadline for QFC Recordkeeping compliance. Despite industry requests for a QFC delay, “…most market participants do not believe it will be approved, because the whole reason behind QFC Recordkeeping is that during times of turmoil and high volatility, if an institution is in trouble, they have a full picture of the financial contracts….The pandemic definitely had some impact on the preparation part. But, for the most part, I think most of the financial firms from a project planning perspective are not facing any major delays…”

Read the full Global Investor article for additional information.

QFC Delay Rejection
The Transcend Platform can help you meet your compliance needs on time, regardless of whether the QFC delay is rejected.

The Transcend QFC Recordkeeping solution automatically maps agreements, generates reports and performs validations to streamline compliance. Additional features include:

  • Captures, harmonizes and links all required positions, collateral, agreements, and reference data for in-scope products
  • Independent validation of reports against the latest specifications
  • Detailed visibility into all exceptions and resolution priority
  • Scalable, flexible technology that easily tailors to the required scope

Contact us today for a demo or click here to learn more.

Collateral Management and COVID-19

In collateral management, no news is very good news. The collateral management industry deserves congratulations for making almost no noise over the last few months. Nothing grabs headlines like a disaster, but the mainstream press has been remarkably quiet about collateral management functioning. In a new Finadium report, vendors, custodians, outsourcing managers and central securities depositories discussed collateral management and covid-19.

“The crisis is reinforcing our value proposition: clients are asking for more STP; more connected data; more scalable infrastructure; and reduced reliance on legacy systems.”

– BJ Marcoullier, Head of Sales, Transcend

Learn more about how Transcend’s solutions simplify the operational challenges of collateral management and covid-19.