Press release
June 3, 2009
TriOptima’s portfolio reconciliation service, triResolve, regularly reconciles over 5.2 million trades
TriOptima announced that triResolve, the leading reconciliation service for OTC derivatives portfolios, regularly reconciles over 5.2 million trades (10.4 million counting both sides submitted) from 1750 legal entities globally. This represents approximately 75% of all non-cleared OTC derivative trades.
All of the Fed 16 institutions use triResolve as well as many other banks, asset managers, hedge funds and investor service companies. In addition to all types of credit derivatives, triResolve participants submit all their fx, equity, commodity, energy, interest rate, and structured derivative trades as well as any other trades collateralized under a credit support agreement. Over 3.5 million trades are now reconciled daily on the triResolve service, supporting the new industry standard of daily reconciliation for large portfolios.
“This represents a milestone in the evolution of portfolio reconciliation as a critical activity in managing counterparty credit risk,” said Viktor Johannsson, business manager for triResolve. “triResolve provides each user with information on mark-to-market exposures by counterparty and by product type and immediately pinpoints any discrepancies, facilitating timely and effective movement of collateral.”
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 135 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 21 currencies and a range of energy derivatives.
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 75% of all non-cleared 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, Singapore.and Tokyo 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