TriOptima will support data verification and portfolio reconciliation of DTCC’s trade repository data as requested by triResolve clients’ for their OTC derivatives portfolios.
TriOptima will be the first portfolio reconciliation provider to receive directly DTCC repository data for this purpose.
“Assisting our clients with verification and reconciliation of portfolio data submitted to DTCC trade repositories is a significant development,” said Raf Pritchard, CEO of triResolve.
“Making repository data directly available to the reconciliation process contributes to data accuracy and creates opportunities to combine workflows and simplify operations."
"Given the rapid pace of change in the market, TriOptima’s strategy is to connect to multiple platforms across the OTC derivatives landscape including central clearinghouses, confirmation platforms, repositories, and other emerging providers of trade processing and data store functionality.”
Stewart Macbeth, president and CEO of DTCC’s Deriv/SERV subsidiary, said that, where permitted, such service provider linkages can be of great assistance to both regulators and market participants.
“Giving our clients’ service providers access to repository data is a way to assist our clients in meeting their regulatory obligations and operational goals efficiently,” said Macbeth.
“Open access is a critical goal in the new OTC derivatives landscape, and the TriOptima connection will facilitate portfolio reconciliation for firms.”
The triResolve service supports the mandatory reconciliation requirements effective from 1 July 2013 of in the US and 15 September in the EU.
The DTCC trade repository link is the latest integration that TriOptima has established with other market participants including the DTCC Trade Information Warehouse, MarkitSERV, SGX, and LCH SwapClear.
.jpg)