SmartStream acquires Algo Collateral business from IBM
SmartStream Technologies has acquired the assets of IBM’s Algorithmics Collateral solution and will add it to its existing solutions for the automation of the end-to-end post trade lifecycle.
The Algo Collateral solution will be rebranded TLM Collateral Management. It provides collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, large and small.
SmartStream believes that clients will “achieve significant additional value through the integration of collateral management with its real-time operational risk control framework for post-trade processing, which includes solutions and services for cash and intraday liquidity management, corporate actions, reconciliations, data management and exception management.
“This acquisition marks another significant step for the company and our customers. Funding and counterparty risk management have a critical focus for our customers, who will now be able to leverage the integration of TLM Collateral Management with our leading cash and liquidity management solutions to give a clear picture of a firm’s exposure,” said Philippe Chambadal, chief executive of SmartStream. “This will give them the unique ability to mitigate counterparty risk and to respond to market changes in real-time. The solution gives a complete picture across the front-and back-office and a centralized view of a firm’s inventory and exposure, enabling greater transparency of funding and collateral needs – which ultimately underpins trading.”