Technology provider FIA Tech has launched the FIA Tech Cash and Collateral Reference Data Service, a globally collected data set.
The data is sourced from FIA Tech’s Central Counterparty (CCP) partners and will be available on FIA Tech’s network of databanks.
The dataset provides a standardized and aggregated view of collateral instruments accepted by central counterparties.
The data set eliminates the manual process of extracting and transmitting exchange and CCP information for futures traders and their customers.
The service also provides crucial data points such as haircuts, concentration limits and collateral management fees.
At launch, the dataset will be accessible to several global clearing houses that manage over US$120 billion in collateral held by clients for trading US futures contracts.
Andrew Castello, Master Data Manager at FIA Tech, says, “Inefficiencies in data sourcing waste valuable time, effort and resources. FIA Tech’s latest Cash and Collateral initiative is designed to significantly reduce manual data collection and dramatically improve operational processing.
“Particularly in times of market volatility and inflation, it is crucial that companies understand and accurately capture acceptable collateral, haircuts, interest rates and fees for CCPs in order to strategically optimize their cash calls. margin.”