SIX migrates its Triparty Collateral Management (TCM) into the renewed and innovative Triparty Agent with the Collateral CockpitTM that already manages repo services since June 2020.
TCM complements the TPA with a leading-edge collateral management solution, providing a comprehensive service to the SIX clients. When using the TCM service, two parties to a transaction delegate their day-to-day operational responsibilities around collateralization to SIX. The SIX TPA performs tasks such as the selection and automatic execution of collateral transfers and ongoing validation that exposures are being appropriately collateralized through multiple daily mark-to-market checks on the collateral throughout the lifecycle of the transaction. This new service creates further tangible opportunities for clients and helps them to reduce operational risks & costs.
Nerin Demir, Head Repo & Collateral Management, SIX: “With this solution combined with our sophisticated Collateral CockpitTM we provide a higher level of security, control and useability for our clients. In addition we established the backbone for collateral mobilization, enabling many new use cases for our collateral management service and a foundation for future growth”
The new TPA based TCM solution adds new features and opens up new possibilities. The main advantages for our clients of this new solution are as follows: