Collateral optimisation, also known as enterprise-wide collateral management, is the latest service custodians are offering clients to anticipate rule changes on clearing trades.

Custodians will offer the service to help clients identify the assets that could be used as collateral, draw them into a pool and pledge them against trades in the most efficient way. John Rivett, a managing director and global head of collateral management at JP Morgan Worldwide Securities Services, said: "Clients are looking at optimisation across their assets. Historically, managing equity and fixed-income inventories was more siloed. But now clients are looking at their collateral needs more holistically."