Omgeo has partnered with TriOptima and AcadiaSoft to extend straight through processing (STP) for users of Omgeo ProtoColl, its automated collateral and margin management solution.
Omgeo ProtoColl will link with TriOptima’s triResolve to help firms respond to regulations such as EMIR and Dodd-Frank that require them to reconcile OTC positions on a regular basis.
Rick Enfield, executive director of ProtoColl product management at Omgeo, said: “Reconciliation is a critical component in reducing margin call disputes, and increases the accuracy and automation of the daily collateral activity.”
“ProtoColl users now have direct access to data pertaining to position variances with their counterparties in advance of the collateral process.”
Raf Pritchard, CEO of triResolve, added: “Greater integration between collateral and reconciliation processes leads to faster and more efficient resolution of discrepancies. By linking TriOptima to ProtoColl, users benefit from lower risk of error and operating costs as well as improved credit risk mitigation.”
Omgeo is also partnering with AcadiaSoft MarginSphere, a margin confirmation process.
The link with MarginSphere will enable ProtoColl clients to electronically communicate margin information between counterparties, and agree on margin call amounts via one service.
Chris Walsh, COO at AcadiaSoft, said: “We are pleased to be partnering with Omgeo to bring increased STP to the collateral management process. With MarginSphere, ProtoColl users can seamlessly confirm their margin details, accelerating the process and reducing risk.”
Both partnerships are scheduled to go live in Q1 2014.
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