Buy side firms find TriOptima’s triResolve counterparty exposure management service positions them for future market and regulatory developments
12 September 2012
New York/ London- September 12, 2012 TriOptima announces today that ATP, BlueBay Asset Management, BlueMountain Capital, Cairn Capital, CPPIB (Canada Pension Plan Investment Board), Freddie Mac, Insight Investment, and Wells Fargo Global Fund Services are among the buy side firms and servicers adopting its triResolve counterparty exposure management service at an accelerating pace. Buy side firms are looking to proactively implement best practice in risk management and portfolio reconciliation ahead of changes in OTC derivatives market practice and regulation.
triResolve, with over 200 firms in the network, regularly reconciles 6.3 million OTC derivative trades representing 90% of the collateralized OTC derivatives market. As Dodd Frank and EMIR regulations are activated in the US and Europe, regular, proactive reconciliation of most OTC derivative portfolios will be required, prompting additional buy side firms to join triResolve.
“Insight adopted triResolve almost four years ago and is already compliant with the coming regulations requiring proactive portfolio reconciliations” said Atul Manek, COO / CFO of Insight Investment. “With all our counterparties part of the network solution, it’s a one-stop shop that does all the heavy lifting.”
“While our successful OTC derivatives reconciliation platform initially attracts buy side clients,” said Raf Pritchard, CEO of triResolve, “once they are part of the network they find new applications for triResolve including reconciliation of cleared trades, repo and stock lending trades, collateral positions and even exchange-traded trades. Buy side firms are also interested in reconciling their records with what their counterparties report to the newly- established swap data repositories.”
TriOptima, an ICAP Group company, is the award-winning provider of OTC derivatives infrastructure services including triResolve, triReduce, and the recently-launched triBalance.
triResolve is a network community service that provides counterparty exposure management services including proactive portfolio reconciliation of OTC derivative portfolios, margin call management, and dispute resolution. Used by more than 200 firms including all global dealers, regional banks, asset servicers, and buy-side firms, triResolve regularly reconciles 6.3 million trades representing over 90% of all collateralized OTC derivative transactions globally. The service benefits trade control, settlement, documentation, collateral and counterparty credit risk functions.
triReduce, the portfolio compression service for OTC derivative dealers, pioneers technology that eliminates risk and reduces operational and capital costs. Serving over 150 bank and non-bank subscribers worldwide including the major local and global dealers in derivatives, triReduce is a critical tool for maintaining post trade processing efficiency. triReduce offers compression cycles in single name and index CDS swaps worldwide, IRS swaps in 25 currencies and a range of energy derivatives.
triBalance, TriOptima’s latest post trade service innovation facilitates proactive counterparty risk management by rebalancing counterparty risk exposure between multiple CCPs and bilateral relationships (in Rates, Credit and Commodities) enabling an efficient use of capital and collateral and ultimately reduce systemic risk.
TriOptima maintains offices in London, New York, Singapore, Stockholm, and Tokyo.
For further information please contact:
Susan Hinko, Global Head of Industry Relations
Tel: + 1 646 744 0410
Candice Adam, Argentus PR
Tel: +44 20 7397 2915