TriOptima and CME Group to provide data verification and portfolio reconciliation of trade repository data for OTC derivatives portfolios
13 May 2014
New York / London, May 13, 2014 - TriOptima, provider of OTC derivative post trade services, announces that it will offer data verification and portfolio reconciliation of data in CME’s Swap Data Repository (SDR) with TriOptima’s triResolve OTC derivatives reconciliation service as requested by their mutual clients.
Data connectivity between CME SDR and the triResolve platform will enable clients of both firms to verify and reconcile cleared and non-cleared credit, rates, foreign exchange and commodities transactions submitted to CME SDR; and leverage triResolve’s resolution workflow process to quickly identify and address any exceptions.
For buy side firms in the US who do not report directly to SDRs but rely on their dealer counterparties or swap execution facilities to report, comparing the data submitted to CME with their own submissions to triResolve will help ensure that discrepancies are identified and resolved quickly and that regulators have an accurate view of their positions.
“Connectivity with TriOptima enables our clients to comply with the CFTC mandates on swap data reporting, verification and portfolio reconciliation rules,” said Jonathan Thursby, President of CME SDR. “Our mutual clients are now well positioned to manage regulatory obligations on their positions efficiently.”
“This new service both contributes to data accuracy and creates opportunities for efficient workflow for industry participants, including performing regulatory reconciliations,” said Raf Pritchard, CEO of triResolve. “We believe that this kind of cooperation and interconnectivity is a logical step, leveraging existing, proven services to meet regulatory goals and thereby serving client needs in the new post trade landscape.”
For further information please contact:
Susan Hinko, Head of Industry Relations
Tel: + 1 646 744 0410
Candice Adam, Argentus PR
Tel: +44 20 7397 2915
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 triCalculate to measure and analyze counterparty risk.
TriOptima, an ICAP Group company, maintains offices in London, New York, Singapore, Stockholm, and Tokyo.