Press release
June 16, 2008
TriOptima’s Portfolio Reconciliation Service, triResolve, Captures 40% of all OTC Derivative Transactions
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.
About TriOptima
TriOptima is the award-winning supplier of technology-leveraged post trade processing services including triReduce and triResolve.
triReduce, the multilateral early termination service for OTC derivative dealers, pioneers technology that eliminates risk and reduces operational and capital costs. Serving over 100 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.
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 40 percent of all OTC derivative transactions globally. Web-based, interactive, with advanced matching and reporting capabilities, the triResolve service reconciles all OTC derivative products, from plain vanilla to complex structures across all asset classes.
TriOptima maintains offices in Stockholm, London, New York, and Singapore. 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