Irish risk analytics firm Quaternion Risk Management will create 20 jobs in Dublin as the result of a strategic partnership with software company AcadiaSoft.
Quaternion, which provides global margin and collateral automation solutions, said its workforce will rise to 50 people by 2020. It is also being backed by Enterprise Ireland. AcadiaSoft moves more than $400 billion (€353 billion) of collateral in total each day.
Opportunities
The partnership will help firms with non-centrally cleared derivatives portfolios meet the operational and regulatory challenges associated with initial margin requirements that started to come into effect in 2016.
"Combining AcadiaSoft's existing infrastructure with our risk analytics tools presents opportunities to create new products that will greatly benefit both the smaller players in the non-centrally-cleared market facing near-term hurdles, as well as larger, established institutions looking to reduce spend on functions that have become 'business as usual' and could now be more efficiently outsourced and standardised," said Donal Gallagher, chief executive at Quaternion.
The news was welcomed by Minister for Business, Enterprise and Innovation, Heather Humphreys.
