SmartStream picks ex-FIS Nick Dominy to sell TLM Collateral Management solution

Rick Steves

“I am looking forward to rolling out the latest version, helping clients address industry regulatory issues, and making better use of their collateral inventory.”

SmartStream Technologies has appointed Nick Dominy as the new Business Development Director for the TLM Collateral Management solution, reporting to Program Manager Jason Ang.

The Transaction Lifecycle Management (TLM) solution automates data management and lowers operational risks for collateral management programmes.

The London-based executive, who will now be introducing the TLM solution to prospective partners and clients, joins SmartStream after six years at FIS, where he was responsible for sales of collateral, securities, and derivatives processing solutions.

Prior to that, he sold back-office solutions to the sell-side at t Torstone Technology and held various collateral management roles within the industry with companies including Citibank and Omgeo.

SmartStream invested heavily in collateral management

Nick Dominy, New Business Director – TLM Collateral Management, SmartStream, commented: “Recently SmartStream has invested heavily in their collateral management solution. I am looking forward to rolling out the latest version, helping clients address industry regulatory issues, and making better use of their collateral inventory – which is a particularly important first step towards realizing the effectiveness and modernization for greater efficiency gains. Integration to the rest of SmartStream’s ecosystem is also key and we will be offering a unique solution in the collateral marketplace – this together with strategic partnerships will give clients greater control over their post-trade operations”.

Jason Ang, Program Manager – TLM Collateral Management at SmartStream, added: “Hiring Nick further emphasises our determination to manage the continuous growth and interest in TLM Collateral Management. Our product has been developed year-on-year, and my goal is to have a highly experienced team wherever and whenever needed in-order-to service our clients with the best solution and advice”.

SmartStream addresses impending UMR regime

In May, SmartStream launched a faster and more efficient way to get eligibility information contained within collateral agreements like CSA, GMRAs and OSLA’s*, for both pre- and post-trade collateral optimization.

Going by the name of Eligibility API for Collateral Management Optimisation, the solution addresses the impending UMR (Uncleared Margin Rules) phase 6 regulatory regime being implemented in September 2022.

Volumes of margin calls are expected to increase and there will be an inevitable squeeze on assets being pledged as collateral, resulting in a rise in demand for High Quality Liquid Assets (HQLA).

SmartStream added that interest rates forecast to rise, which drives firms to look at pre- and post-trade optimisation so as to efficiently use scarce HQLA and Cash. The solution helps firms to publish eligible collateral for each legal agreement, which can then be consumed by their optimisation engines.

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