TriOptima announced today that it estimates that its triResolve portfolio reconciliation service is regularly reconciling 40 percent of all OTC derivative transactions globally.
Currently 7 million live trades (double counted) are reconciled regularly on triResolve. This is up from 4 million trades at the end of 2007, or a 75% increase in reconciled trades. This represents trades from more than 200 institutions, including 13 of the Fed 18 banks.
"During recent periods of market turbulence, triResolve subscribers were able to monitor credit exposures with their counterparties and report to senior management on a daily basis. Experience with the service during the subprime market disruptions in late 2007 and then the Bear Stearns situation brought new subscribers into triResolve as well as accelerated the number of reconciliations being done on the service. Both of these factors contributed to the significant growth we’ve seen in triResolve in the last few months," commented Viktor Johannsson, global business manager for triResolve.
triResolve gives participants a rapid, regular view of counterparty exposure. The advanced, multi-layered analysis and reporting functionality provides a clear understanding of problem areas and root causes that informs operations, collateral, and trade control units as well as senior management.
