AcadiaSoft Expands In APAC10.27.2020
AcadiaSoft Inc., the leading industry provider of risk and collateral management services for the non-cleared derivatives community, today announced a new effort to make its products and solutions more accessible to the APAC region as Phase 5 and 6 firms fall into scope for the Uncleared Margin Rules (UMR).
AcadiaSoft has been present in APAC for nearly five years, and its services are used by more than 60 local firms, including nearly all of the major Australian, Japanese, Singaporean and Hong Kong financial institutions. This includes agreements with the trust banks in Japan. These banks provide AcadiaSoft services as an outsourced operation to their customers and global fund administrators, which helps buy-side firms in Japan more easily access the AcadiaSoft community. AcadiaSoft currently has engagements with banks and vendors in Korea, Mainland China, New Zealand, Taiwan and Thailand, and recently entered into partnerships with two Korean vendors.
AcadiaSoft will expand functionality for key products in APAC, including IM Threshold Monitor. Firms will be able to electronically agree to IM Threshold Monitor terms using an industry standard side letter as per local regulatory requirements in the APAC Region. AcadiaSoft will also provide more ways for APAC firms to access its industry-standard tools, such as IM Exposure Manager, and add more local-language resources for Japanese and Korean firms.
“Phase 5 is a crucial threshold for many institutions in the APAC region, and the challenges in this region are unique, with many disparate local regulations and language barriers,” said Takashi Nagai, Head of Business Development, APAC. “We are working closely with clients across the region to ensure they are equipped with our best-in-class solutions and local resources as they navigate the final phases of the Uncleared Margin Rules.”
AcadiaSoft recently established a Japanese legal entity, AcadiaSoft Japan GK, which will provide sales, marketing and account management functions. In addition, AcadiaSoft has launched a Japanese-language website. The new website will make it easier for Japanese firms to learn about and engage with AcadiaSoft, including through AcadiaSoft’s local working groups in Japan, which focus on UMR and other regulatory and industry requirements that are specific to the region.
Challenges for the buy side include finding the right ESG specialist and finding robust ESG data.
Exchange groups are strengthening digital and network-related businesses.
Retail accounts for half of the trading volume at Taiwan Futures Exchange.
Phase 5 of the uncleared margin rules (UMR) took effect from September 2021.
The unit is part of the exchange's new LSEG Labs network.