Stockholm-based Swedbank is installing Algorithmics' Algo Collateral software to manage collateral margining across its OTC derivative and repo business lines.
Algo Collateral is an enterprise-wide system designed to automate collateral activity and reduce credit and operational risks associated with margining.
The bank will roll out the software at its investment banking unit, Swedbank Markets. The implementation will consolidate OTC derivatives and repo margining activities onto a single platform.
Per Aspegren, head of merchant banking at Swedbank Markets, says: "Algo Collateral's flexible workflow will accurately define and guide the critical operational activities associated with the margining of our OTC Derivative and Repo agreements."