Deutsche Bank puts its collateral and margin management in a cloud server solution – first to do so among major global banks.
Cloudmargin is the name of the vendor that will serve the German finance giant with its new cloud-based platform for its global collateral management, according to an article by news site Global Custodian.
”Moving our collateral and margin management onto an online platform means that we and our clients will enjoy a reduction in risk and resource-draining emails and calls,” says Joseph Macdonald, global head of collateral optimisation trading at Deutsche Bank, in the article.
The move is meant to give Deutsche Bank and its clients access to the same information, regarding regulatory obligations and required actions, for cleared and non-cleared OTC derivatives. The risks of manual intervention and discrepancies are expected to be significantly reduced thanks to the transparency added to the process.