Transcend and State Street Win 2021 AFTA for Best Collaboration Initiative
- Dec 3, 2021
- Blog Collateral Optimization Derivatives UMR
The American Financial Technology Awards (AFTAs), hosted by WatersTechnology, recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities. Transcend and State Street are proud winners of the 2021 AFTAs award for Best Collaboration Initiative. This category is awarded to a technology vendor that has worked in close collaboration with a capital markets firm on a specific project over the course of the last 12 months.
Legacy tri-party services were built to solve the needs of the sell-side. With CSDR and UMR driving buy-side demand, Transcend and State Street partnered on Collateral+, expanding State Street’s offering to include state-of-the-art tri-party services developed for the buy-side to achieve margin efficiency and better liquidity. The Collateral+ service helps buy-side firms that engage in OTC derivatives and financing strategies to achieve end-to-end collateral efficiency.
“The Uncleared Margin Rules created a very real issue for buy-side players to not only meet these new margin requirements but to ensure they use their collateral resources in an optimal way. Transcend brought to bear flexible world-class technology, industry experts, and agile development, to help State Street offer a holistic solution to this important customer base,” explains Bimal Kadikar, Transcend’s CEO. “Transcend collaborated with State Street under compressed regulatory timelines to create a solution that not only meets the base regulatory requirements but also innovative optimization capabilities to make the best use of the client’s financial resources.”
Click here to learn more about Transcend’s Optimization capabilities, and click here to learn more about Collateral+.
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