Wematch and Pirum Systems announce

go-live with Bank of America on their integrated service on Securities Lending.

 12 June 2020 

Wematch and Pirum have partnered to develop a fully integrated front to back service solution for clients using the Wematch platform. The first end to end securities finance transactions were executed by Bank of America on 10th June and processed in a fully interoperable manner between the organisations.

With this new partnership, clients can match and negotiate trades in Wematch, and leverage connectivity with Pirum to manage all post-trade lifecycle events in a fully STP manner.

Pirum and Wematch are now fully connected and all post-trade and lifecycle events will be automatically reflected in the platform for all connected clients.

David Raccat, Head of EMEA at Wematch, said: “The interoperability with Pirum on Securities Lending is completing our current offering with a fully low touch workflow and we are convinced this upgraded setup will benefit all Dealers. The pre-trade workflow we have built in Wematch combined with the best-in-class post-trade offering of Pirum will make the whole process seamless and very powerful.”

Robert Frost, Head of Product Development at Pirum, said: “As a result of consistent client interest, we are excited to add Wematch to our growing connectivity hub, which now includes TR’s, CCP, Data providers, Tri-party venues as well as trading platforms. It has been a pleasure working with the innovative team at Wematch and we look forward to enabling market participants to GetConnected as they automate their trading activity.”

 About Wematch 

Wematch is a financial technology company, offering a set of web-based tools designed to enhance the dealing process of financial institutions. 

Its solutions are based around tailored matching, smart negotiation engines and life cycle management workflows. The company has focussed on four core markets: Securities Financing, OTC Equity Derivatives, Exchange listed Delta One and OTC cleared interest rates derivatives. 

Wematch was founded in 2016 by market and technology experts who saw the opportunity to change the traditional methods of bringing together market participants in the financial markets. 

The company is backed by JP Morgan and Societe Generale as part of their fintech incubator programmes. 

David Raccat 
Head of EMEA 

About Pirum Systems

Pirum offers a secure, centralised automation and connectivity hub for global securities finance, enabling complete automation of the post-trade and collateral lifecycle across repo and stock loan.

Our position within the securities financing market enables clients to seamlessly access counterparts, tri-party agents, trading venues, market data companies and CCPs, as well as meet their regulatory reporting requirements.

We combine an in-depth understanding of both the securities finance industry and the most innovative technology to provide highly innovative and flexible services.

Supporting established and emerging financial institutions, Pirum’s pioneering approach consistently reduces operational risk while increasing processing efficiency and profitability.

Pirum’s innovative designs and customer focus have resulted in widespread industry recognition and multiple awards. Pirum was most recently named Global Post-Trade Service Provider of the Year at the International Securities Finance 2019 Awards and Collateral Connect secured Best Software Solution.

Simon Davies
Business Development Manager