Euroclear Bank’s Collateral Management Services has integrated Taskize, a collaboration platform designed for investment operations, to improve communication and query resolution with counterparties. The platform connects to existing communication channels, including email and Symphony Messaging, enabling real-time information exchange.
The integration is expected to streamline workflows by providing a single environment where counterparties can negotiate and finalize collateral transactions, states Taskize in a press release. It aims to improve efficiency by reducing the manual effort required to manage inquiries and process adjustments. Front-office traders, in particular, will use Taskize to facilitate communication between Euroclear as a tri-party agent and their trading counterparts.
Mike Reece, Managing Director and Head of Collateral Management Services at Euroclear, states that the move is intended to create a more structured and transparent way for counterparties to engage with the bank.
Taskize CEO Diederik Geeraerts describes the increasing complexity of collateral management as a challenge for financial institutions, emphasising the importance of efficient communication. He pointed out that “Taskize enhances the way financial institutions interact with their clients and counterparties, saving time and money, reducing regulatory risk around query resolution”.
