Primary investors Citi, Deutsche Bank, and Deutsche Börse raised $15 million for CloudMargin in its largest funding round to date.
David White joins CloudMargin in newly created chief commercial officer role to drive sales across the business.
Clearstream veteran Miriam Marascio has joined CloudMargin to oversee onboarding, support and relationships with clients.
Both vendors will combine services for a single collateral platform to help firms meet UMR requirements.
TriOptima’s former CEO and Goldman Sachs veteran Stuart Connolly has been named chief executive at CloudMargin.
The move makes Deutsche Bank the first of the major global banks to adopt cloud technology for collateral and margin management.
CloudMargin hires former Nomura OTC clearing boss Lee McCormack, and opens New York office.