Baton Systems has connected LCH SA to its collateral network.
California-based post-trading fintech says Paris-based LCH clearinghouse has become the latest clearing entity to plug into the Baton Core-Collateral ecosystem, partnering first to support cleared trade flows via CDSClear, the CDS clearing of the CCP. a service.
Baton’s Core-Collateral solution is designed to support end-to-end automated collateral workflow for cleared derivatives, extending intraday visibility around their current margin obligations and collateral holdings and allowing users instruct multiple security and cash movements through a single interface.
Using distributed ledger technology to support its efforts to improve post-trade efficiency, Baton says it has facilitated the settlement of more than 15 million trades in the past 12 months. He says he has now orchestrated the settlement of more than US$7.1 trillion in cash and securities in total, with several of the world’s largest banks now using his technology.
Frank Soussan, Global Head of CDS Clear at LCH SA, said: “We are delighted to have been connected with Baton, to work together to help clearing members accelerate the speed of settlement of collateral movements. We look forward to further developing our collaboration with Baton to improve post-trade operational efficiencies for our members and clients.
Tucker Dona, Head of Business Development and Customer Success at Baton Systems, adds, “We strive to ensure that clearing members can automate and optimize as large a proportion of collateral holdings as possible, as this has real implications for their bottom line.
“By doing so, they can better control their collateral under management and better support their clients, achieve higher net interest income, and create a more scalable business with reduced reliance on manual processes. Login to LCH SA [increases] access to the group of central counterparties of the greatest strategic importance for our clients.