Wematch and Pirum Methods announce go-live with Bank of America on their built-in service on Securities Lending.
Wematch and Pirum have partnered to develop a completely built-in entrance to again service answer for shoppers utilizing the Wematch platform. The primary finish to finish securities finance transactions had been executed by Bank of America on 10th June and processed in a completely interoperable method between the organisations. With this new partnership, shoppers can match and negotiate trades in Wematch, and leverage connectivity with Pirum to handle all post-trade lifecycle occasions in a completely STP method. Pirum and Wematch are actually absolutely linked and all post-trade and lifecycle occasions will likely be robotically mirrored within the platform for all linked shoppers. David Raccat, Head of EMEA at Wematch, mentioned: “The interoperability with Pirum on Securities Lending is completing our current offering with a fully low touch workflow and we are convinced this upgraded setup will benefit all Dealers. The pre-trade workflow we have built in Wematch combined with the best-in-class post-trade offering of Pirum will make the whole process seamless and very powerful.” Robert Frost, Head of Product Growth at Pirum mentioned: “As a result of consistent client interest, we are excited to add Wematch to our growing connectivity hub, which now includes TR’s, CCP, Data providers, Tri-party venues as well as trading platforms. It has been a pleasure working with the innovative team at Wematch and we look forward to enabling market participants to GetConnected as they automate their trading activity.”