The Boston-based company provides risk and collateral management services, helping financial institutions comply with the new requirements. Its digital tools make it easier for firms to follow the new standards, including those for the over-the-counter derivatives market: the Uncleared Margin Rules (known as UMR). Now, companies can post their initial margin electronically, giving them better control over collateral, boosting efficiency and mitigating risk all at once.
By using the secure infrastructure of BT Radianz, AcadiaSoft has been able to connect securely to thousands of members in one of the world’s largest financial cloud communities. This has not only created new opportunities for AcadiaSoft worldwide, but also helped to strengthen the global economy.
Maintaining connections with global members
When AcadiaSoft first set up the system to help its members manage collateral, it needed a secure partner to host its core platform. It needed data centres with top level protection and security. AcadiaSoft works with sensitive client data so InfoSec was a major priority. As regulations evolved, it needed to make sure its operations stayed resilient and its infrastructure could support the business as it grew.
More recently, as the UMR has rolled out, more organisations have been brought into its scope. Phase one to four of the rollout made sure that 75 of the largest trading firms, including the majority of global banks and some buy-side institutions, complied with regulations. Phase five and six – coming into force in September 2021 and 2022 respectively – will impact around 1,200 firms. So AcadiaSoft needs to know it has the capability to reach and service a large increase in customers in a highly secure environment.
“BT Radianz has been a cornerstone of the AcadiaSoft business for many years. As we have grown and our requirements increased, BT Radianz has supported us every step of the way. Their global reach, flexibility and resiliency mirror AcadiaSoft’s clients' needs,” said Scott Fitzpatrick, Chief Operating Officer, AcadiaSoft.
BT Radianz provides the multi-data centre options, with required failover that AcadiaSoft requires to deliver high availability services to our many thousands of clients that rely on our systems daily.”
An innovative and flexible infrastructure
BT Radianz cloud ecosystem ticks all the boxes. It’s a private network designed for the demands of the global financial sector, guaranteeing the highest levels of performance, reliability and security. It allows firms to access applications and services from more than 400 providers. It’s the perfect solution for AcadiaSoft.
It offers more than a financial community. It helps with compliance. It gives a service wrap which meets regulations and the requirements for certifications. It’s primed for annual audits, with accredited data centres. And it’s easy to scale as they grow.
With BT Radianz, we were able to support AcadiaSoft’s path to virtualisation, as well as being its exclusive extranet provider. In doing this, we could deliver a secure and guaranteed connection at a very competitive price.
Ready for the future
Today, 99 per cent of firms that are currently in-scope for the UMR are working with AcadiaSoft. It’s now handling over 1.5 million trades a day.
As the business has grown, Radianz has helped optimise parts of its operation and adapt to new technologies. It’s flexible. Resilient. The firm’s data is protected. It has the tools to withstand incredible market conditions and changing volumes.
AcadiaSoft continues to work with us, providing an additional service that makes Radianz Cloud so popular.
“We’re delighted that AcadiaSoft continues to choose Radianz to grow it’s business as the leading provider of risk and collateral management services. We’ve been working together for the last decade since AcadiaSoft’s origins with the success of this relationship being based on our joint understanding of each other’s business and a collaborative approach to innovation,” said Yousaf Hafeez, Head of business development for financial solutions.