The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Anvil pioneers multi-asset margining tool

Global consultancy and software provider Anvil has seized the opportunity to become the first company to design a cross-asset margining tool. In essence, the new system, dubbed Anvil Margin, will help traders, middle offices and back offices to manage collateral more effectively by operating on a multi-asset class basis. "This new product has been driven by emerging trends in the industry," says Phil Buck, CEO of North America at Anvil. "Market participants are becoming far more focused on cross-asset margining, for the simple reason that it's more efficient."

Margin trading of, say, FX products has traditionally been agreed on a separate pool of collateral to swaps products being traded at the same organization. The differing legal frameworks attached to each product have in part fuelled this siloed or vertical arrangement. For instance, FX products are transacted under IFEMA (International Foreign Exchange Master Agreement) terms while swaps operate under the legal framework designed by the International Swaps and Derivatives Association.

Anvil already provides a host of risk management products across the capital markets spectrum, including equities, bonds, FX, money markets, and derivatives. However, this latest product covers any margin calls across all asset classes and calculates exposures, monitors collateral already pledged and finds appropriate additional collateral from available long positions, thereby increasing the efficiency of trades.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree