The applications, part of the company’s enterprise collateral management offering, will be called PrimeConnect.
The system is designed to improve transparency and selection control for hedge fund managers, as well as tri-party structure movements in support of alternative strategies for 40 Act fund managers for funds.
Pershing managing director Gerry Tamburro said that increasing concern over counterparty risk, coupled with the traditionally cumbersome and time-consuming collateral management process, has led many fund managers to be cautious when pledging collateral to their counterparties.
"PrimeConnect and PrimeConnect40 not only eliminate the phone calls, faxes and emails, but they provide a clear window into the movement and management of collateral," Tamburro said.
"Because these applications provide both a consolidated view of an overall portfolio and an online and real-time margin calculator, fund managers are able to more efficiently and effectively place collateral."
