Stuart Connolly, CloudMargin CEO

Headquartered in London CloudMargin, a cloud-based collateral management solution has announced that Cardano Group, provider of fiduciary management, risk management, and investment advisory services, has gone live on its platform. Cardano Group has its presence in the UK and the Netherlands and has chosen CloudMargin as its solution for collateral management, as the London based startup can provide automated, secure and connected solution for pension fund clients’ bilateral and cleared over-the-counter (OTC) activity.

Jarno Bostelaar, Group Head of Operations for Cardano, said: “With our growing client base, we have been seeking a collateral management solution that fits all our clients’ requirements under various technological, regulatory, economic, risk and operational scenarios. Robust risk management, high-quality standards, and continuous improvement are at the heart of our culture, and we believe CloudMargin’s vision is perfectly aligned. The CloudMargin collateral management solution gives us the flexibility to meet all our client objectives and significantly improves our operational lives.”

Stuart Connolly, CloudMargin CEO, said: “We are delighted to welcome Cardano into our community and look forward to our partnership. Cardano is an extremely thoughtful and forward-thinking organisation so we consider this another great reinforcement of our strategy. CloudMargin offers the firm the ability to automate key functions, including margin call management, settlement messaging and asset selection, along with optimization. As pension funds are grappling with increased volume of OTC transactions, and increased complexity of securities used as collateral, we are able to add value to these processes by providing the applicable tooling to them.”

The migration to CloudMargin’s cloud-based offering enables Cardano to focus on providing enhanced services to its clients, while reducing operational risk across the business. With the integration of CloudMargin, Cardano will leverage various complementary service providers across the collateral lifecycle, including AcadiaSoft, GlobalCollateral’s Margin Transit Utility (MTU) and SWIFT. The company will also be adding its cleared OTC activity to the platform soon.

by Megha Bhattacharya
Market Analyst at IBS Intelligence