Only Firm to Win Category Since its Creation by the Waters Technology Publication
LONDON and NEW YORK, Nov. 6, 2017 /PRNewswire/ -- CloudMargin, the multi-award winning creator of the world's first web-based collateral and margin management solution, has for the third consecutive year won the award for Best Buy-Side Collateral Management Tool from Buy-Side Technology (BST). Officials from the Waters Technology publication announced the award on Friday in London.
CloudMargin is the only firm to have won the category since its creation by BST in 2015.
Victor Anderson, Editor-in-Chief of Waters Magazine and Waters Technology, said: "CloudMargin has won this award for the third consecutive year by virtue of its innovative concept and execution that significantly impact its clients' budgets and efficiency. This year, more than ever, CloudMargin's collateral management technology and associated services helped a range of buy-side firms meet significant regulatory challenges."
CloudMargin CEO Steve Husk said: "We are delighted to earn this honour once again from Buy-Side Technology. As CloudMargin continues to grow and innovate, the BST recognition further validates that we are providing more and more value in the marketplace. The beauty of our cloud-based platform lies in its affordability and simplicity to the user, our rapid deployment and our network of best-of-breed partners that provides turnkey connectivity to all market participants in the collateral life cycle – from clearing houses, through major dealers and large asset managers, all the way through to the smallest end-users."
Judges considered progress the firm has made in the period of July 1, 2016 through June 30 this year, including that the service can now be delivered to and through clearing houses, clearing brokers and directly to all categories of end users and linked to a broad network of organisations. By linking all of these parties in the value chain through an integrated offering, CloudMargin aims to make the process of collateral management more efficient and accessible and less costly for all parties.
The firm has helped clients in the over-the-counter markets achieve full compliance with the Variation Margin rules that took effect March 1 and with other global regulatory requirements that have presented a massive challenge to firms previously handling their collateral and margin management manually or with expensive on-premise infrastructure.
This latest award comes on the heels of CloudMargin's win of two FinTech innovation awards in the past month and represents its 11th award for innovation and technology in the past three years.
The Buy-Side Technology awards recognise the leading technologies and vendors in their area of expertise, through an auditable, transparent methodology underpinned by the input and experience of nine judges - five buy-side-focused technology consultants and four Buy-Side Technology journalists.
Headquartered in London, CloudMargin created the world's first cloud-based collateral management workflow tool, which has earned 10 different industry awards since 2015 for innovation and best-in-class technology. The firm's Software-as-a-Service (SaaS) model is helping many of the leading financial institutions globally – including exchanges, brokerage firms, banks, asset management firms and insurance companies – meet time-critical regulatory deadlines and reduce costs associated with collateral requirements that are growing dramatically. CloudMargin bypasses many of the shortfalls of legacy, on-premise software, enabling clients to experience rapid implementation and access to robust and secure collateral management workflow software. For more information, visit www.cloudmargin.com. To access the firm's FlightPlan microsite designed to help financial institutions globally navigate the uncleared margin rules and other regulations impacting their collateral management function, please visit https://goo.gl/Uq9sAK.