Cassini Workbench
The Cassini Workbench becomes your primary system for monitoring and booking OTC trades. The workbench provides full control of all aspects of OTC trading, and provides visibility on all costs associated with the whole life of a trade, including funding and collateral.
Core platform components:
– Initial Margin What-If
– IM comparison across CCPs and Swap Futures
– Recommend Cheapest Trade
– Intraday Dashboard
– Operational and Agreement Limits Monitoring

 

 

Available via our Cloud Service or as a locally installed deployment
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Answer Questions Such As:

What does it cost to fund this trade ?
Is there a cheaper alternative contract ?
Is my collateral eligible and sufficient ?
Which FCM/CCP is the best clearing venue ?
Am I compliant with all CCP requirements ?

Improve P&L

Calculating a projected lifetime cost of a trade before execution ensures that a true P&L is known and more efficient trades can be executed where available.

Better Use Of Collateral

Cassini can identify the best FCM or clearing venue to use that ensures best use of available collateral. Collateral selected by Cassini can then be notified to the back office collateral management team for end of day pledging.

What If Analysis

 

Proposed trades are analysed for initial margin impact, collateral availability, costs, risk, and compliance with limits. Cassini then displays the lifetime costs of holding the position as well as any limits that generate alerts.
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Compare IM across CCPs and Brokers

 

Cassini runs a simulation for each What-If trade to calculate the impact of clearing that trade through every available broker and CCP combination including the broker add-ons. The results are displayed as a table of IM, and the lowest is highlighted for consideration.

Compare to Swap Futures

Cassini examines all available alternative trades that provide equivalent exposure, whether that is using different types of contract or a different clearing venue, and  recommends the most efficient alternative trade.
– Swap Futures
– Alternative Clearing Venues
– Bilateral Trade

Select Cheapest Collateral Intra Day

Cassini runs an optimiser against the pool of available collateral and the internal funding rates to select the cheapest to deliver collateral at pre-trade time.
This collateral selection is necessarily indicative as it is intra day, but is important in highlighting potential collateral shortfalls or differences in collateral eligibility among counterparties.

Regulatory & Operational Limits

Cassini has a complex limits engine integrated with the analytics process.
Custom limits can be defined against any level of the hierarchy from portfolio to counterparty, and down to asset class and currency. Example types of limits would be: CCP trading limits, portfolio risk and concentration limits, as well as back office operational limits.

Integrated Dashboard

Cassini provides a live dashboard that combines risk with collateral, limits, fees, and funding information to give a truly integrated view of the portfolio and all associated costs and limits. This is updated intraday as the portfolio or collateral changes.

Have Questions about using the Cassini OTC Pre Trade platform?

For more detailed information about data sources, IM models etc.

Read our FAQs

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Contact us to get more information or to request a demo

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