Market Moves to Adopt TriOptima’s triResolve Margin Service11.07.2016
TriOptima – London, New York – TriOptima, a leading provider of OTC derivatives post-trade risk management services and infrastructure, announces today that an increasing number of financial institutions are joining the triResolve Margin service in anticipation of the new variation margin rules for non-cleared OTC derivatives effective 1 March 2017. These institutions include a variety of dealers, buy-side and corporates such as B & P Fund Services AB, BRED Banque Populaire, Länsförsäkringar Bank AB, The Governor and Company of the Bank of Ireland, Delta Air Lines, Inc, several major Japanese banks and many more.
The variation margin rules will apply immediately to a broad range of financial firms who hold a portfolio of non-cleared OTC derivatives, unlike the initial margin rules that went into effect September 1 and are being phased in over time.
triResolve Margin is a web-based collateral management service which provides an automated and exception based margin processing solution that integrates the triResolve portfolio reconciliation service (used by over 1700 firms). With complete dispute analytics and an out-of-the-box connection to the AcadiaSoft Hub, triResolve Margin facilitates a transparent straight-through-process that is critical given the increase in margin call volume and complexity that the new rules will generate.
“An historically high level of customization in OTC derivatives collateral has contributed to current fragmented and manual operations. The new rules are a catalyst, driving standardization, automation and centralization of the collateral process, as demonstrated by these new clients and many further firms we have in the testing phase that recognize the benefits of triResolve Margin’s integrated approach,” said Raf Pritchard, CEO of triResolve.
As rates and volatility rise, the need to optimise the value of collateral is greater than ever.
Same-day execution reduces clients’ risk and resources as optimization can take up to 5 days.
Initial margin for centrally cleared markets increased by $300bn over March 2020.
More buy-side firms will be caught by the new rules.
Exposures and margin calls can be monitored in real-time.