Margin · Financing · Triggers
Margin · Financing · Triggers
Your Prime Broker relationship isn't a spreadsheet. It's a
stack.
Your Prime Broker relationship isn't a spreadsheet. It's a
stack.
Your Prime Broker relationship isn't a spreadsheet. It's a
stack.
A single PB relationship runs on dozens of interlocking agreements
—GMSLA, GMRA, CSAs, Terms, ISDA, and more. When you pull one lever,
you aren't just adjusting margin; you are shifting financing, eligibility,
and credit limits across your entire firm.
A single PB relationship runs on dozens of interlocking agreements
—GMSLA, GMRA, CSAs, Terms, ISDA, and more. When you pull one lever,
you aren't just adjusting margin; you are shifting financing, eligibility,
and credit limits across your entire firm.
A single PB relationship runs on dozens of interlocking agreements
—GMSLA, GMRA, CSAs, Terms, ISDA, and more. When you pull one lever,
you aren't just adjusting margin; you are shifting financing, eligibility,
and credit limits across your entire firm.
Treasury systems model the positions you hold today. Bowtie models the stack—and replicates it across every counterparty.
Treasury systems model the positions you hold today. Bowtie models the stack—and replicates it across every counterparty.
Treasury systems model the positions you hold today. Bowtie models the stack—and replicates it across every counterparty.
For funds with 2+ prime brokers and $1B+ AUM
For funds with 2+ prime brokers and $1B+ AUM
For funds with 2+ prime brokers and $1B+ AUM
Or download the one-pager first
Or download the one-pager first
Or download the one-pager first
Every margin call and financing charge is a legal event. The industry just
stopped treating it that way.
Every margin call and financing charge is a legal event. The industry just
stopped treating it that way.
Three functions that should be one. Three systems that don't talk.
The Problem
Three functions that should be one. Three systems that don't talk.
The Problem
Three functions that should be one. Three systems that don't talk.
The Problem
The Problem
Three functions that should be one. Three systems that don't
talk.
01
Margin runs on their math, not your terms
Your treasury team reconciles margin calls against internal books — but nobody checks whether the call is consistent with the terms that were actually negotiated. The spreadsheet summary from onboarding is the closest thing to a reference, and it's out of date.
01
Margin runs on their math, not your terms
Your treasury team reconciles margin calls against internal books — but nobody checks whether the call is consistent with the terms that were actually negotiated. The spreadsheet summary from onboarding is the closest thing to a reference, and it's out of date.
01
Margin runs on their math, not your terms
Your treasury team reconciles margin calls against internal books — but nobody checks whether the call is consistent with the terms that were actually negotiated. The spreadsheet summary from onboarding is the closest thing to a reference, and it's out of date.
02
Financing terms are a black box
Rate tiering, benchmark selection, rehypothecation economics — every PB structures it differently. Without a normalized view, you can't compare costs across counterparties or identify when terms drift from what was agreed.
02
Financing terms are a black box
Rate tiering, benchmark selection, rehypothecation economics — every PB structures it differently. Without a normalized view, you can't compare costs across counterparties or identify when terms drift from what was agreed.
02
Financing terms are a black box
Rate tiering, benchmark selection, rehypothecation economics — every PB structures it differently. Without a normalized view, you can't compare costs across counterparties or identify when terms drift from what was agreed.
03
Agreements sit in a drawer
Negotiated terms define what a PB can enforce — thresholds, cure periods, cross-default cascades. But those terms are locked in PDFs, disconnected from the daily positions and market conditions they're supposed to govern.
03
Agreements sit in a drawer
Negotiated terms define what a PB can enforce — thresholds, cure periods, cross-default cascades. But those terms are locked in PDFs, disconnected from the daily positions and market conditions they're supposed to govern.
03
Agreements sit in a drawer
Negotiated terms define what a PB can enforce — thresholds, cure periods, cross-default cascades. But those terms are locked in PDFs, disconnected from the daily positions and market conditions they're supposed to govern.
Half-measures that cost you millions annually.
What You're Using Now
Half-measures that cost you millions annually.
What You're Using Now
Half-measures that cost you millions annually.
What You're Using Now
What You're Using Now
Half-measures that cost you
millions annually.
The Filing Cabinet
The Filing Cabinet
Static digitization
Turning a PDF into a searchable document is only the first step. If your legal terms aren't alive and connected to your trade flow, they're just digital paper.
Turning a PDF into a searchable document is only the first step. If your legal terms aren't alive and connected to your trade flow, they're just digital paper.
Turning a PDF into a searchable document is only the first step. If your legal terms aren't alive and connected to your trade flow, they're just digital paper.
You didn't negotiate for searchability. You negotiated for an advantage.
The Calculator
The Calculator
Isolated analytics
Math without context is a guess. Calculating margin requirements is useless if the system doesn't know the specific cure periods or cross-default triggers you fought for.
Math without context is a guess. Calculating margin requirements is useless if the system doesn't know the specific cure periods or cross-default triggers you fought for.
Math without context is a guess. Calculating margin requirements is useless if the system doesn't know the specific cure periods or cross-default triggers you fought for.
A calculator that ignores the contract is just a distraction.
The Dashboard
The Dashboard
Passive visibility
Seeing a problem isn't solving it. Most systems tell you that you've been overcharged 48 hours after the cash has left your account.
Seeing a problem isn't solving it. Most systems tell you that you've been overcharged 48 hours after the cash has left your account.
Seeing a problem isn't solving it. Most systems tell you that you've been overcharged 48 hours after the cash has left your account.
We provide clause-level evidence to stop the drift—not just observe it.
These tools exist. They're just not enough.
These tools exist. They're just not enough.
Not documents. Not workflow. Live counterparty economics.
This is what $1.4M in annual overcharges looks like when you finally see it.
The Solution
Not documents. Not workflow. Live counterparty economics.
This is what $1.4M in annual overcharges looks like when you finally see it.
The Solution
Not documents. Not workflow. Live counterparty economics.
This is what $1.4M in annual overcharges looks like when you finally see it.
The Solution
From agreements to live economics. One day. Not kidding.
How It Works
From agreements to live economics. One day. Not kidding.
How It Works
From agreements to live economics. One day. Not kidding.
How It Works
How It Works
From agreements to live economics. One day. Not
kidding.
01
Upload agreements
ISDAs, PB agreements, CSAs, amendments. Bowtie structures every enforceable term automatically.
01
Upload agreements
ISDAs, PB agreements, CSAs, amendments. Bowtie structures every enforceable term automatically.
01
Upload agreements
ISDAs, PB agreements, CSAs, amendments. Bowtie structures every enforceable term automatically.
02
Normalize across PBs
Disparate terms mapped to a universal schema. Compare Goldman to Morgan in the same language.
02
Normalize across PBs
Disparate terms mapped to a universal schema. Compare Goldman to Morgan in the same language.
02
Normalize across PBs
Disparate terms mapped to a universal schema. Compare Goldman to Morgan in the same language.
03
Connect positions
Feed live portfolio and market data. Bowtie computes what each PB should be charging.
03
Connect positions
Feed live portfolio and market data. Bowtie computes what each PB should be charging.
03
Connect positions
Feed live portfolio and market data. Bowtie computes what each PB should be charging.
04
Reconcile and act
See variances. Export evidence. Schedule a review with clause-level documentation.
04
Reconcile and act
See variances. Export evidence. Schedule a review with clause-level documentation.
04
Reconcile and act
See variances. Export evidence. Schedule a review with clause-level documentation.
A universal standard for counterparty economics.
Every prime broker structures terms differently. Goldman calls it a "liquidity charge." Morgan calls it a "concentration penalty." Same economics, different language.
Open Schema
A universal standard for counterparty economics.
Every prime broker structures terms differently. Goldman calls it a "liquidity charge." Morgan calls it a "concentration penalty." Same economics, different language.
Open Schema
A universal standard for counterparty economics.
Every prime broker structures terms differently. Goldman calls it a "liquidity charge." Morgan calls it a "concentration penalty." Same economics, different language.
Open Schema
Bowtie's open schema normalizes 50+ parameters across every major PB—cure periods, cross-default triggers, rehypothecation rights, financing tiers, NAV thresholds—into a single, queryable structure.
Bowtie's open schema normalizes 50+ parameters across every major PB—cure periods, cross-default triggers, rehypothecation rights, financing tiers, NAV thresholds—into a single, queryable structure.
Bowtie's open schema normalizes 50+ parameters across every major PB—cure periods, cross-default triggers, rehypothecation rights, financing tiers, NAV thresholds—into a single, queryable structure.
Your data stays yours. Bowtie normalizes what comes in from your PBs. The analytics layer runs inside your infrastructure—no proprietary data leaves your walls. Connect your existing feeds. Export to your existing systems. We're the translation layer, not another silo.
Your data stays yours. Bowtie normalizes what comes in from your PBs. The analytics layer runs inside your infrastructure—no proprietary data leaves your walls. Connect your existing feeds. Export to your existing systems. We're the translation layer, not another silo.
Your data stays yours. Bowtie normalizes what comes in from your PBs. The analytics layer runs inside your infrastructure—no proprietary data leaves your walls. Connect your existing feeds. Export to your existing systems. We're the translation layer, not another silo.
// Universal schema excerpt "counterparty": "Goldman Sachs", "agreement_type": "PB_AGREEMENT", "effective_date": "2021-12-15", "triggers": { "nav_decline": { "threshold": 0.20, "cure_days": 5 }, "aum_minimum": { "value": 500000000 }, "cross_default": { "linked_to": ["Barclays"] } }, "financing": { "base_rate": "SOFR", "spread_bps": 42, "source_clause": "Schedule 4 §21" }
Currently deployed at funds managing $200B+ in assets. Inquire about availability.
Currently deployed at funds managing $200B+ in assets.
Inquire about availability.
You already negotiated the edge.
Start using it.
We work with a limited number of funds at a time. If you're
running $1B+ across multiple primes, let's talk.
You already negotiated the edge. Start using it.
We work with a limited number of funds at a time. If you're
running $1B+ across multiple primes, let's talk.
You already negotiated the edge.
Start using it.
We work with a limited number of funds at a time. If you're
running $1B+ across multiple primes, let's talk.