Press release
July 15, 2009
TriOptima wins the Editor’s Outstanding Achievement Award from Credit for its triResolve portfolio reconciliation service
TriOptima received Credit magazine’s Editor’s Outstanding Achievement Award for its triResolve portfolio reconciliation service at its European Credit Awards ceremony on July 15th held at The Royal Exchange in London.
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.
“We are honored that the editor’s chose triResolve based on feedback from their readership,” said Viktor Johannsson, triResolve global business manager. “Since starting out with a pilot of the service back in 2006, triResolve has grown across the globe, with leading dealers, regional banks, asset managers, hedge funds and investor service companies as subscribers.”
With over 5.2 million trades reconciled among 1750 legal entities, triResolve has gained acceptance as the industry standard for reconciling all collateralized OTC derivative transactions in a portfolio. It is estimated that 70% of all uncleared OTC derivative transactions across asset classes reside on triResolve, with the majority reconciled daily.
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 70-75% 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