Meet Baton at FIA Expo 2026
November 2–4
See, check, optimize and move collateral in real time
Baton provides a real-time view of balances and margin across CCPs, custodians and nostro accounts, enriched with comprehensive eligibility information for optimization and movement validation. Our advanced portfolio optimization capability improves collateral allocation across multiple venues, evaluating cash and securities across multiple obligations simultaneously, helping collateral managers, treasury teams and clearing operations balance funding cost, HQLA preservation and operational complexity within an executable workflow.
- 8 weeksto key account connectivity and visibility at an independent clearing firm
- 5 of the top 10FCMs by total funds held use our Core-Collateral
- 96%+of cleared initial margin globally, via CCPs connected two-way to our collateral network, as of October 2026
Baton for global banks
Less collateral being under‑utilized, more at work
Global banks with complex collateral inventories face a challenge around information and process. But the opportunity is huge. Start with one capability, or run the full pipeline from balances to eligibility, optimization and execution, without re-platforming.
Replace a fragmented view of collateral across CCPs, custodians and nostro accounts with one real-time, consolidated dashboard, built on direct connectivity to each venue. Then optimize the portfolio as a whole, not one venue at a time, avoiding the funding cost, scarce HQLA tied up unnecessarily and additional movements that sequential decisions create. Baton Multi-Venue Optimizer, an evolution of our existing waterfall optimizer, uses linear programming to assess multiple assets and obligations simultaneously. It combines eligibility schedules, concentration limits, internal policies, asset economics and venue-specific delivery constraints, so an attractive theoretical result doesn’t reflect an unworkable operational plan. The selected outcome can flow into our instruction and movement workflows, connecting analysis to action.
That means you can:
- Run a safe business even in times of volatility, without committing more collateral than required
- Lower the overall cost of delivering collateral and protect scarce HQLA
- Weight objectives such as reducing delivery cost, preserving HQLA or limiting the number of movements, then compare scenarios before choosing an allocation
- Make fewer avoidable movements, with a clear record of the trade-offs behind each decision
- Automate eligibility checking and collateral allocation, and instruct bulk pledges and recalls across CCPs, custodians and nostro accounts
- Generate regulatory and CCP reporting as a by-product of the same normalized data
Baton for FCMs and clearing members
Eligibility, checked automatically every day
Baton connects in real time to the locations where you hold your assets, including CCPs representing over 96% of cleared initial margin globally, carry brokers and custodians. Balances from Swift, API and individual portals are consolidated into one filterable view, alongside the full CCP margin picture: initial and variation margin, collateral on deposit, and excess or deficit. Go live in weeks, without a treasury transformation programme.
Baton’s Eligibility Service, live in production and available on its own through the user interface or API, harmonises the published rules of over 30 CCPs into one view, from interest rates and minimum cash requirements to cut-off times and holiday calendars. Your house rules, operational constraints and treasury economics are applied alongside, and remain your own
Covering cash and securities across cleared, bilateral and tri-party relationships, the same foundation makes non-cash collateral mobilisation a realistic next step. Every capability is modular, so you can add portfolio optimisation as your needs grow, without replacing your existing books and records.
That means you can:
- Remove the delay of assembling and reconciling balances by hand when a margin call lands
- Protect your firm from a liquidity shortfall without defaulting to a larger buffer
- See where cash sits idle in low-yield locations, so you can put it to work.
- Flag ineligible assets against CCP and house rules before movements are instructed, eliminating the risk of rejected instructions.
- Start with visibility or eligibility, then add non-cash mobilisation and portfolio optimisation as your operating model matures
Meet the team
Know what you hold
Act on it in real time
Faster, always-on markets reward firms that know what they hold and can act on it immediately. Baton already makes that possible, on infrastructure that’s live in production, not in a pilot. Our new capability extends that proposition from real-time visibility and eligibility through to portfolio-level decision-making and execution. Whether you run clearing at a global bank or finance at an FCM, bring your priority to our team and we’ll map out the next step together.
Meet us at Booth 224