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Collaboration between IHS Markit and OpenGamma aims to provide end-to-end support to clients for UMR compliance.

Margin optimisation specialist OpenGamma and analytics provider IHS Markit have confirmed a new partnership to support compliance for mutual clients with margin rules.  

The deal will see OpenGamma’s pre-trade margin analytics combined with IHS Markit’s post-trade derivatives calculation service, to provide end-to-end support for a range of entities which both firms mutual clients will have access to.

“Our forward-looking solution, powered by highly-accurate margin analytics and calculations, can effectively streamline margin workflows and OTC derivatives trading to enable cost mitigation,” claimed Hiroshi Tanase, executive director at IHS Markit.

The partnership was formed following a one-year delay to phases five and six of the uncleared margin rules (UMR). The final two UMR phases will now go live in September 2021 and September 2022. Both firms agreed that as numerous institutional asset managers will come into scope of the rules as they are introduced, demand for tools that help reduce the cost of posting margin will increase.

“Asset managers are currently working out how to best use the time afforded to them by the UMR delay,” said Peter Rippon, CEO of OpenGamma. “IHS Markit is one of the very few firms that has the proven pedigree in this area. Together, our combined solution offers full coverage for both cleared and bilateral derivatives.”


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