TriOptima’s triResolve service leads in OTC commodity portfolio reconciliation with over 500,000 OTC commodity trades from 80 energy and financial firms
12 December 2013
New York / London – December 12, 2013 TriOptima announces that more than 80 leading energy houses are reconciling over 500,000 OTC commodity trades on the triResolve portfolio reconciliation platform. Users include BKW Energie AG, DONG Naturgas A/S, EnBW Trading GmbH, Eni S.p.A, GDF SUEZ Trading, RWE Supply & Trading GmbH, Total Gas & Power Limited, Vitol S.A, and dealer financial institutions.
Currently about 500,000 commodity trades covering physical and financial swaps, options and forwards in oil, freight, energy, coal, natural gas, agricultural and emissions are reconciled on triResolve. Adoption of the triResolve service accelerated dramatically in the past year in order to meet the regulatory deadlines for portfolio reconciliation in the US (August 23) and Europe (September 15).
“As energy houses and financial institutions implemented the new regulatory requirements for portfolio reconciliation, we were pleased that they found the triResolve service met their needs,” said Mattias Palm, TriOptima’s business manager for commodities.”The flexibility of the triResolve architecture facilitated minor modifications to accommodate the unique characteristics of commodity swaps. This meant that triResolve emerged as a leading solution for the industry.”
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 and manage disputes; triBalance to manage cleared and bilateral counterparty risk; and triQuantify to measure and analyze counterparty risk.
TriOptima, an ICAP Group company, 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