Awards
TriOptima wins awards
Risk Magazine Industry Platform of the Year award 2009
TriOptima's services triReduce for multilateral termination and triResolve for portfolio reconciliation have jointly received the “Industry Platform of the Year” award by Risk magazine. The services were cited as being critical in enabling the over-the-counter derivatives industry to weather the financial crisis. triReduce played a key role in one of the most testing events in the credit market over the past year – the settling of CDSs on Paris-based media firm Thomson. In total, the compression cycle eliminated $19.6 billion notional of single-name contracts referencing Thomson. The triResolve service is currently being used by more than 1900 institutions and reconciles over 5.8 million trades, making it an essential tool for improving control and managing risk exposure. Additionally, TriOptima was chosen by ISDA’s rates steering committee to develop an interest rate derivatives repository based on the triResolve technology. “TriOptima’s selection demonstrates the confidence the industry has in the company’s platform technologically and in its ability to build out a service,” says JP Morgan’s Powell.Funds Europe Awards European Middle Office Provider of the Year 2009
Funds Europe has named TriOptima " Middle Office Provider of the Year " for its portfolio reconciliation service triResolve. triResolve was acclaimed for reducing the burden on the back office, increasing efficiency and facilitating compliance with regulatory reporting requirements. During 2009 the service has been adopted by buy-side firms as a key component of their risk management and trade control processes.Financial News 21 Technology Companies for the 21st Century 2009
TriOptima was among those firms acclaimed in Financial News’ fourth annual list of technology companies of the 21st century. To date, TriOptima's portfolio reconciliation service, triResolve, has reconciled more than 70% of all non-cleared OTC derivatives trades. TriOptima has now also been appointed by ISDA to provide an interest rate derivatives trade reporting repository leveraging the triResolve technology.
Asia Risk Technology Company of the Year 2009 TriOptima
has been named "Technology
Company of the Year" by Asia Risk magazine. triReduce was
commended for bringing a welcome relief to the market by providing the
ability to terminate unnecessary interest rate and credit derivatives
trades via a multilateral termination platform. While triResolve, the
company’s portfolio reconciliation service for over-the-counter (OTC)
derivatives portfolios, was praised for transforming portfolio
reconciliation of OTC derivatives portfolios from a reactive, internal
dispute-driven process, into a network community for proactive, regular
reconciliations. Thanks to both services, clients have been able to free
up much-needed capital, while keeping a close check on counterparty risk
and staying on top of regulatory requirements. Risk managers say they
haven’t looked back since signing up to the services.
Credit magazine Editor’s Outstanding Achievement Award 2009 TriOptima received Credit magazine’s Editor’s Outstanding Achievement Award for its triResolve portfolio reconciliation service at its European Credit Awards ceremony. Based on market feedback in its poll of more than 450 investor companies, the editors of Credit recognized the increasing importance of triResolve in transforming portfolio reconciliation from reactive and dispute driven to a proactive, highly automated activity performed in collaboration with the counterparty.
Financial News 21 Technology Companies for the 21st Century 2008 In its annual awards, Financial News acknowledges 21 information technology firms that offer innovative solutions with the power to transform businesses. TriOptima’s triReduce portfolio compression service was recognized as a service that is regarded by OTC derivative dealers and the global regulators as an important tool for improving financial stability by reducing notional outstandings.
Credit magazine Technology Innovation Award 2008 TriOptima’s triResolve portfolio reconciliation service was selected by Credit for transforming portfolio reconciliation from a reactive, dispute driven process into a proactive credit risk management function that serves as the foundation for accurate and efficient collateralization of the OTC derivatives portfolio. With over 5 million trades (single counted), triResolve participants are actively reconciling over 70% of all the OTC derivative transactions across asset classes and product types on a regular basis.
Risk Magazine 20th Anniversary Industry Trade Processing Platform Award 2007 TriOptima's termination service, triReduce, was recognized again for its major contributions to minimizing operational, legal and counterparty credit risk by offering OTC derivative dealers regular opportunities to eliminate trades from their portfolios. From triReduce's launch in 2003 through May 2007, over 100 market participants terminated 192,000 interest rate swap contracts and 263,000 CDS single name and index transactions. A staggering 8.7 million fixings and 12.7 million payments for IRS swaps were eliminated, as well as 9.6 million CDS payments.
Financial News 21 Technology Companies for the 21st Century 2007
Financial News named TriOptima in its second annual list of 21
technology companies shaping the future of finance for the 21st century
. Citing both its “flagship” multilateral terminations product,
triReduce, and its recently-launched portfolio reconciliation service,
triResolve, Financial News included TriOptima in a list of 21 “companies
with innovative technology, a clear vision of how they might improve the
markets in which they operate, and … some track record of success…” They
recognized TriOptima as an emerging force in supplying systems to
simplify the risky business of OTC derivatives confirmations and
settlement.
Risk Magazine 2006 Technology Platform of the
Year Labeled a "godsend" for the credit derivatives market,
TriOptima was cited by Risk for its ability to help credit derivative
dealers "clear redundant trades off their books and reduce the size of
their portfolios" through the triReduce termination service which was
originally deployed for interest rate and energy swaps. Risk also
praised TriOptima's "willingness to help the industry cope with recent
major credit events" by introducing special termination cycles,
extending its matching functionality, and calculating post default cash
settlement payments.
Asia Risk 2005 Technology Innovation of the Year In announcing TriOptima's award, Asia Risk noted TriOptima's growing success terminating Hong Kong dollar swaps through triReduce, as well as potential for future success in other Asian markets. "For TriOptima's innovative idea, its epic algorithm and the efficiencies it will help bring to Asian markets, the Swedish company is a clear winner in the technology space for 2005."
Energy Risk 2005 Innovation of the Year "triReduce, the multilateral swap cancellation service, has already make a splash with energy traders since its launch into the energy markets..." announced Energy Risk in its award profile. The first crude oil termination cycle cancelled 1,888 oil swaps, and energy traders are looking forward to future cycles not only in oil but power and gas. Describing TriOptima, Energy Risk commented "...its future looks very bright."