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GlobalCollateral Takes Home a Pair of Markets Choice Awards

By Madiha Arsalan | May 15, 2018

DTCC’s Maria Dwyer, Executive Director and Head of Solutions Business Operations, received a “Rising Star” award, and DTCC-Euroclear Global Collateral Ltd.’s (GlobalCollateral’s) Margin Transit Utility (MTU) took top honors as the “Best New Product” at the 6th Annual Markets Choice Awards. The black-tie awards dinner was held on Tuesday, April 17 in Midtown Manhattan.

“It’s a tremendous honor to be considered for the award, no less to win it,” Dwyer said, who was recently tapped to oversee Business Operations for DTCC’s Solutions business. The business delivers information-based and business processing solutions to financial intermediaries globally. Previously, she served as Chief Commercial Officer of GlobalCollateral, the joint venture of DTCC and Euroclear, which offers a suite of solutions that streamlines collateral processing.

Markets Choice Award winners were selected by industry participants in the institutional trading and investing community – the buy side, sell side, exchanges and trading technology firms. “It’s extremely gratifying to know that I was nominated and selected by my peers,” Dwyer said, “and for that, I’m most grateful – and humbled.”    

In her current role, Dwyer oversees the DTCC Solutions Program Management Office, DTCC Solutions Business Risk Management and DerivSERV Operations. Since joining DTCC in 2009, Dwyer has served in numerous roles across the firm, focused on product management, governance and organizational innovation and optimization.  

MTU Wins Best New Product Award

The MTU was honored as “Best New Product” in recognition of the value it brings to dealers, buy-side firms and custodians by providing straight-through collateral settlement processing and enabling collateral optimization via data aggregation and real-time status updates. Launched in 2017, the MTU was created in response to collateral management challenges faced by firms. The MTU offers a solution for managing rising margin call volumes, driven by an array of new and existing regulations requiring the posting of margin for cleared and uncleared derivatives transactions.

“Our focus has been on addressing our clients’ needs through collateral settlement processing and optimization,” said Chris Childs, DTCC Managing Director, Head of Derivatives and Collateral. “This award recognizes the MTU’s role in helping firms meet regulatory demands in an efficient and cost-effective manner.”

The growth in margin call activity stems from regulatory requirements to calculate and post variation margin on a daily basis for uncleared derivatives. This is in addition to mandatory central clearing for OTC derivatives, pending TBA margin rules, and initial margin requirements for a growing list of covered swap entities and their counterparties through 2020. Firms that use manual processes face capacity constraints to process and settle collateral.

MTU reduces users’ operational costs and risks while enhancing the quality of their collateral processing and settlement data. By processing the collateral through to settlement, MTU replaces firms’ manual procedures with streamlined collateral movement and settlement processing between counterparties and custodians. MTU also enables front-office teams to optimize their allocation of collateral by expediting settlement and status updates, reducing cost and risk for the industry.