Pirum announces expansion into pre-trade for securities lending with Pirum TradeConnect

Pirum TradeConnect enables clients to connect with any trading partner directly, or with multiple venues simultaneously, in any format and in real-time. The open connectivity solution leverages Pirum’s proprietary technology and extensive global network, to meet the growing demand for an integrated solution across the entire trade life cycle.

Rob Frost, chief product officer at Pirum, spearheading the development of Pirum TradeConnect, said: “We are incredibly excited to introduce this new solution for securities finance trade connectivity. Pirum TradeConnect represents a qualitative leap, with clients gaining more control, more transparency and more security than with other existing solutions. Pirum TradeConnect also makes the industry more diversified and resilient, as it provides a trusted alternative to the current market infrastructure. Modernizing reporting and standardizing communication between counterparts will also improve transparency in the Equities and Fixed Income space, as well as increase liquidity through improved choice, availability, and management information for industry participants, globally.”

Phil Morgan, chief executive at Pirum, said: “We are proud to bring to market this transformative solution, which synthesises pre-trade with existing post-trade and collateral management services, and is the next step on the journey of automation – marking a new era of choice, resilience and transparency for securities finance. Pirum TradeConnect democratizes the industry by giving participants the power to decide who they trade with, where, when and how. We are thankful to all the clients and industry experts who have been contributing to the development of Pirum TradeConnect.”