Cheapest-to-deliver is easy to say and hard to compute when eligibility schedules, haircuts, concentration limits, and funding costs all interact across margin, repo, and securities-lending obligations at once. PRISM treats the whole thing as the single optimization it is, and finds the allocation that costs you the least while staying compliant everywhere.
Every desk that posts collateral knows the principle: deliver the asset that satisfies the obligation at the lowest economic cost, keeping the valuable, liquid, low-haircut assets free for where they earn more. The principle is simple; the computation is not. Each obligation has its own eligibility schedule and haircut; each asset has its own funding cost and opportunity cost; concentration and wrong-way-risk limits constrain the whole picture; and an asset posted here cannot be posted there. Optimizing one obligation at a time — the way siloed systems do — produces a locally sensible, globally expensive answer, because the best asset for this obligation might have been far more valuable held back for that one.
The right answer requires looking at all obligations and all available collateral at once and solving for the allocation that minimizes total cost subject to every constraint simultaneously. That is a genuine large-scale constrained optimization, and it is exactly the shape of problem PRISM exists to solve.
You bring the obligations, the eligible inventory, and the cost and constraint schedules; PRISM returns the cost-minimizing allocation and a reproducible audit trail.
Minimizes total cost across all obligations and inventory at once.
Solves the whole inventory-against-obligations problem at once, capturing savings siloed allocation misses.
Eligibility, haircuts, and concentration limits are hard constraints, not after-the-fact checks.
Same inputs, same allocation — re-derivable for treasury, risk, and audit.
In a matched-workload pilot, run your real obligations and inventory through PRISM and compare the allocation cost against your current process — every number traceable.
Request a pilot →