VERMEG helps SMEs meet UMR deadline with Colline.Cloud

By Megha Bhattacharya

Banking and insurance software solutions provider, VERMEG today announced the launch of Colline.Cloud. The new development is an end-to-end collateral management service that is aimed at smaller buy and sell-side companies. The announcement follows the acceleration of uncleared derivatives (UMR) to phases five and six.

Helen Nicol, Global Product Director, Collateral Solutions, VERMEG said, “The delay to phase five and six of the UMR provides a vital window for small to medium-sized firms to think strategically about how they will meet the regulation. With a more efficient collateral management solution like Colline.Cloud, they will not only tick the regulatory box, but it could also improve business performance by providing a sustainable and flexible cost structure and removing the need for burdensome IT infrastructure.”

“Colline.Cloud is developed from our deep collateral management expertise and we’re constantly innovating to provide clients, both big and small, with solutions that are quick to implement, easy to use and are more time and cost-efficient.”

According to VERMEG, Colline.Cloud is a modular cloud-based collateral management platform that is automated and adaptable. It can be implemented rapidly and has been developed from the service, COLLINE, and has additional capabilities including Standard Initial Margin Model (SIMM) calculations and a new user interface.

Last year, VERMEG has announced that its Securities and Custody solution, Megara, has gone live with Santander Securities Services Brazil (S3 Brazil). Megara is a modular suite that enables clients to cover various segments such as wholesale, retail, foreign and domestic operation through a single installation.