SmartStream partners with Acadia to enhance its TML customer services

By Joy Dumasia

SmartStream Technologies, the financial Transaction Lifecycle Management solutions provider, announced its partnership with Acadia, the leading industry provider of integrated risk management and margin automation services for the derivatives community – enabling increased efficiencies for the processing and calculation of interest statements for TLM Collateral Management customers and their associated counterparties.

SmartStream provides a range of solutions for the transaction lifecycle with AI and machine learning technologies embedded – which can be deployed in the cloud or as managed services. 

Acadia is the leading industry provider of integrated risk management services for the derivatives community. Its central industry standard platform enables a network of banks and other derivatives firms to improve efficiency and mitigate costs across the entire trade life cycle.

SmartStream’s TLM Collateral Management solution will work alongside Acadia’s Interest Statements workflow, available via its industry-standard Margin Manager platform. The solution will dispatch interest statements, reconcile, and resolve counterparties in a standardised messaging format. This will remove the reliance on email exchanges and often lengthy, complicated dispute resolution by uploading statement data. In addition, Acadia’s matching engine will pair statements, highlight discrepancies, and produce final interest statements for clients and their relevant counterparties. 

Richard Barton, Head of Product Management, Acadia, states: “We are delighted to be working alongside SmartStream, who have successfully served clients in the collateral management space for years, and we are confident this will further enhance its service in many areas, including margin and risk mitigation – which will efficiently meet all sell-side, buy-side and fund administrator requirements”.

Recently, IBS Intelligence reported that SmartStream Technologies today announced SmartStream Air version 3, intending to support global clients on the Microsoft Azure platform. This development will also allow more countries to meet local regulatory requirements and access improved AI capabilities for managing critical data across the enterprise.