Buy side firms find TriOptima’s triResolve counterparty exposure management service positions them for future market and regulatory developments
TriOptima announces today that ATP, BlueBay Asset Management, BlueMountain Capital, Cairn Capital, CPPIB (Canada Pension Plan Investment Board), Freddie Mac, Insight Investment, and Wells Fargo Global Fund Services are among the buy side firms and servicers adopting its triResolve counterparty exposure management service at an accelerating pace. Buy side firms are looking to proactively implement best practice in risk management and portfolio reconciliation ahead of changes in OTC derivatives market practice and regulation.
triResolve, with over 200 firms in the network, regularly reconciles 6.3 million OTC derivative trades representing 90% of the collateralized OTC derivatives market. As Dodd Frank and EMIR regulations are activated in the US and Europe, regular, proactive reconciliation of most OTC derivative portfolios will be required, prompting additional buy side firms to join triResolve.
“Insight adopted triResolve almost four years ago and is already compliant with the coming regulations requiring proactive portfolio reconciliations” said Atul Manek, COO / CFO of Insight Investment. “With all our counterparties part of the network solution, it’s a one-stop shop that does all the heavy lifting.”
“While our successful OTC derivatives reconciliation platform initially attracts buy side clients,” said Raf Pritchard, CEO of triResolve, “once they are part of the network they find new applications for triResolve including reconciliation of cleared trades, repo and stock lending trades, collateral positions and even exchange-traded trades. Buy side firms are also interested in reconciling their records with what their counterparties report to the newly- established swap data repositories.”
