triResolve’s Repository Reconciliation service and DTCC collaborate to reconcile data reported to Asian regulators
03 May 2016
Singapore, London, New York, 3 May 2016, TriOptima, the award-winning post trade infrastructure provider, announces today that its triResolve Repository Reconciliation service is actively reconciling data reported to The Depository Trust & Clearing Corporation (DTCC)’s Global Trade Repository (GTR) by institutions regulated by the Monetary Authority of Singapore (MAS), the Australian Securities and Investments Commission (ASIC) and the Hong Kong Monetary Authority (HKMA).
DTCC’s GTR is a registered global trade repository in all three jurisdictions and enables parties who have reporting requirements under MAS, ASIC or HKMA to report derivatives contracts and meet their trade reporting obligations. triResolve receives reported data directly from DTCC’s GTR through an automated link. Over 20 firms are already using the triResolve service to verify the accuracy of the reported trade data.
Using an algorithmic matching process triResolve matches and compares trade data reported to the trade repository to another data set sent to triResolve without the need for a common matching ID. Users can validate a repository record against an in-house record, reconcile both repository records or compare all three in one view. With tools to investigate and resolve differences users can validate and align their data to ensure reporting accuracy.
Peter Tierney, Head of DTCC’s GTR in Asia, said: “We continue to work closely with TriOptima to help our clients achieve greater operational efficiencies. Ensuring the quality of reported data through controls and reconciliation is a priority for us and the industry.”
Raf Pritchard, CEO of triResolve, said: “triResolve Repository Reconciliation has experienced significant growth as trade reporting has become more embedded across the globe. Regulators are currently focused on the accuracy of the reported data, and we are pleased to assist our clients with this. Our automated link to DTCC dramatically improves this process.”
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.
With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. User owned and industry governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets. In 2015, DTCC’s subsidiaries processed securities transactions valued at more than US$1.5 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$45.4 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week. To learn more, visit us at www.dtcc.com or follow us on LinkedIn, Twitter and YouTube.