TriOptima announced that its counterparty exposure management service, triResolve, regularly reconciles 6.3 million OTC derivative trades representing 90% of the collateralized OTC derivatives market. In its recently-published ISDA Margin Survey 2012, respondents indicated that daily reconciliations increased from 31% to 47% for all firms, and from 61% to 71% for large firms primarily due to adoption of the triResolve service.
Since its launch in 2006, triResolve has been widely-adopted by a broad cross section of market participants including 200 global dealers, regional institutions, asset servicers, energy trading houses, asset managers, and buy side institutions.
As a centralized platform capturing 90% of the collateralized OTC derivative population, triResolve plays a critical role in the increasingly important collateral management process from reconciliation through the stages of exception management workflow enabling users to identify and resolve issues and disputes on the centralized platform.
Over 5.6 million trades across OTC derivative asset classes and product structures are reconciled on a daily basis on triResolve in response to current commitments to regulators for daily reconciliations, as well as proposed and anticipated rules in the US under Dodd-Frank and in Europe under EMIR requiring proactive reconciliation by market participants. A further 700,000 trades are reconciled on a less frequent basis, such as weekly or monthly.
triResolve’s adoption by a significant cross-section of the buy-side community including BlueMountain Capital Management and CQS, regional institutions like DBS Bank and the “Big Six” Canadian banks and all major dealer institutions underscores the benefits of its network community structure and its leadership position in the industry.
“While the foundation of triResolve is its extraordinarily successful reconciliation functionality, we have leveraged that expertise beyond reconciliation to dispute resolution and margin management,” said Raf Pritchard, ceo of triResolve. “Our users have also been quick to expand the triResolve application to other areas of their business including reconciliation of cleared trades, repo and stock lending trades, collateral positions and even futures trades. triResolve will continue to develop solutions to the challenges faced by our clients in the continuously changing regulatory and business environment.”
