New York, March 26, 2018 – Matrix Applications has entered into a strategic partnership with Accordo Compliance Solutions to provide comprehensive services for complying with the new margin requirements for mortgage related products.
FINRA’s Margin Requirement Rule (Rule 4210) is being amended to include forward settling TBA’s, Specified Pools, ARM’s and agency CMO’s. The compliance deadline for these covered agency transactions takes place on June 25, 2018.
Matrix Applications’ MarginCalculator.com service is a web-based utility that calculates exposure on forward-settling positions inclusive of cash and security postings. The solution was specifically designed with the changes to Rule 4210 in mind. For firms using MarginCalculator.com, Matrix Applications is partnering with Accordo – a consulting company advising firms on compliance, risk, and operations – to certify compliance with the new margin rule standards.
“MarginCalculator enables financial firms to quickly, easily and affordably calculate and track margin requirements without the need to implement comprehensive, expensive collateral management systems,” said Stephen Mellert, Managing Director for Matrix Applications. “MarginCalculator covers the complexity of the rule and its various exemptions, but the broker-dealer community needs to validate internal policies and procedures – before the FINRA audit. That’s where Accordo comes in.”
“Matrix Applications is a trusted partner to Accordo and our clients. We welcome the opportunity to work together to help firms trading MBS comply with the new margin standards,” said Robert Masi, Managing Partner of Accordo.
About Matrix Applications and the MarginCalculator.com service
Matrix Applications is a New York-based technology service bureau offering a suite of products and back-office services to support institutional, fixed income trading firms. MarginCalculator.com is a web-based solution to the complex problem of margining forward-settling trades (under FINRA Rule 4210), particularly TBA’s, specified pools, ARM’s and CMO’s. This utility calculates exposure due to market fluctuations versus margin collateral and cash posted to mitigate such exposures. MarginCalculator.com lets you compute, control and comply.
Accordo is a full-service, solutions-oriented consultancy to broker-dealers, registered investment advisors, banks and asset management firms. Accordo assists in the areas of strategy, risk management, regulatory compliance, operations, internal audit, technology and cyber security. Its products and proprietary engagement framework help create business value, streamline support functions, manage regulatory risks and transform operations to drive competitive advantage and profitability.