Market moves to adopt TriOptima's triResolve Margin service in anticipation of 2017 variation margin rules
01 November 2016
London, New York – 1 November 2016 – TriOptima, a leading provider of OTC derivatives post-trade risk management services and infrastructure, announces today that an increasing number of financial institutions are joining the triResolve Margin service in anticipation of the new variation margin rules for non-cleared OTC derivatives effective 1 March 2017. These institutions include a variety of dealers, buy-side and corporates such as B & P Fund Services AB, BRED Banque Populaire, Länsförsäkringar Bank AB, The Governor and Company of the Bank of Ireland, Delta Air Lines, Inc, several major Japanese banks and many more.
The variation margin rules will apply immediately to a broad range of financial firms who hold a portfolio of non-cleared OTC derivatives, unlike the initial margin rules that went into effect September 1 and are being phased in over time.
triResolve Margin is a web-based collateral management service which provides an automated and exception based margin processing solution that integrates the triResolve portfolio reconciliation service (used by over 1700 firms). With complete dispute analytics and an out-of-the-box connection to the AcadiaSoft Hub, triResolve Margin facilitates a transparent straight-through-process that is critical given the increase in margin call volume and complexity that the new rules will generate.
"An historically high level of customization in OTC derivatives collateral has contributed to current fragmented and manual operations. The new rules are a catalyst, driving standardization, automation and centralization of the collateral process, as demonstrated by these new clients and many further firms we have in the testing phase that recognize the benefits of triResolve Margin’s integrated approach," said Raf Pritchard, CEO of triResolve.
TriOptima is the award-winning provider of post trade risk management services and infrastructure for OTC derivatives. Focused on reducing costs, eliminating operational and credit risk, improving counterparty exposure management, and reducing systemic risk, TriOptima offers a range of services: triReduce to reduce swap inventory and counterparty risk; triResolve to reconcile OTC derivative portfolios, manage disputes, validate repository data, and deliver an automated margin management solution; triBalance to manage cleared and bilateral counterparty risk; and triCalculate to measure and analyze counterparty risk.
TriOptima, an ICAP Group company, maintains offices in London, New York, Singapore, Stockholm, and Tokyo.