TriOptima’s triResolve service expands in APAC adding Taiwan’s Taipei Fubon Commercial Bank
09 March 2015
New York/London, 9 March 2015 – TriOptima announces today that Taipei Fubon Commercial Bank (Fubon) is the first Taiwanese financial institution to join its triResolve portfolio reconciliation service. triResolve has grown 350% in Asia Pacific since 2012; and the service continues to add subscribers in the region. Currently 1,300 firms use triResolve globally.
Market participants like Fubon have begun to reconcile regularly to accommodate their US and European counterparties who are required to reconcile their portfolios and manage their collateral disputes in a timely manner, as well as other APAC institutions. Proactive portfolio reconciliation is an important risk management tool that many APAC firms are adopting as best practice in response to global regulation and increased margin activity.
“We are working closely with Taiwanese institutions to advance their risk management initiatives by joining triResolve” said Yutaka Imanishi, CEO of TriOptima Asia Pacific. “The introduction of two-way variation margin in 2015 will require the adoption of a robust reconciliation and dispute resolution process like that offered by triResolve.”
triResolve users in APAC cover a wide range of customer types including banks, insurance companies, securities firms, energy companies, hedge funds, investment managers, and sovereign wealth funds and government treasuries in Australia, Hong Kong, Japan, Singapore, South Korea and Taiwan.
Other TriOptima Services in Taiwan
In addition to its portfolio reconciliation service, triResolve, TriOptima also offers regular risk-constrained multilateral compression through its triReduce service. The first triReduce cycle in TWD interest rate swaps was in 2009 to help reduce outstanding notionals. Since 2009, 24 firms including both major Taiwanese and global dealers have participated in 10 TWD triReduce cycles terminating trades with a notional value of NT$8.82 trillion. In 2014 alone, 18 firms eliminated notionals outstanding of NT$1.69 trillion.
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 and validate repository data; 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.