Taipei Fubon Commercial Bank has become the first Taiwanese financial institution to join TriOptima’s triResolve portfolio reconciliation service, further expanding triResolve’s reach in the Asia Pacific (APAC) region.
The triResolve service’s presence has increased by 350 percent in the APAC region since 2012, and it is now used in companies in Australia, Hong Kong, Japan, Singapore and South Korea, as well as Taiwan.
APAC participants are increasing reconciliations in order to accommodate US and European counterparties that are required to reconcile their portfolios and manage collateral disputes quickly.
Yutaka Imanishi, CEO of TriOptima in the APAC region, said: “We are working closely with Taiwanese institutions to advance their risk management initiatives by joining triResolve.”
He added: “The introduction of two-way variation margin in 2015 will require the adoption of a robust reconciliation and dispute resolution process like that offered by triResolve.”
The service is now used by 1,300 firms around the world, including banks, insurance companies, hedge funds and government treasuries.
