Press release
December 4, 2008
TriOptima wins awards from Credit Magazine and Financial News
TriOptima has been selected for the second year in a row as one of the Financial News 21 Technology Companies for the 21st Century while also winning a Technology Innovation Award from Credit magazine.
The Credit magazine Technology Innovation Awards recognize key develop-ments in technology for the credit industry, particularly in the fields of analytics, risk management, pricing and valuation.
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 coundted), triResolve participants are actively reconciling over 60% of all the OTC derivative transactions across asset classes and product types on a regular basis.
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.
“We believe that our services have been very valuable in managing credit risk exposure and operational risk during the recent market instability. It is gratifying to have our services recognized for their innovative contributions to the OTC derivatives business,” said Brian Meese, Group CEO.
About TriOptima
TriOptima is the award-winning supplier of technology-leveraged post trade processing services including triReduce and triResolve.
triReduce, the portfolio compression service for OTC derivative dealers, pioneers technology that eliminates risk and reduces operational and capital costs. Serving over 120 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.
triResolve is a network community service for proactive portfolio reconciliation of OTC derivative portfolios. Used by global dealers, regional banks and buy-side firms, triResolve currently handles more than 60% of all OTC derivative transactions globally. The service benefits trade control, settlement, documentation, collateral and counterparty credit risk functions. Web-based, interactive, with advanced matching and reporting capabilities, the triResolve service reconciles all OTC derivative products, from plain vanilla to complex structures.
TriOptima maintains offices in Stockholm, London, New York, and Singapore. TriOptima is a privately-held company owned by its employees and directors with a significant minority interest held by ICAP plc.
For further information please contact:
Susan Hinko, Global Head of Industry Relations
Tel: + 1 646 744 0410
susan.hinko@trioptima.com
Meredith Sledd Lindquist, Global Head of Marketing
Tel: +46 8545 25 664
meredith.sledd.lindquist@triopima.com