TriOptima has renewed its collaboration with AcadiaSoft to automate monthly collateral interest payments in order to improve the efficiency of trade processing for over-the-counter (OTC) market participants.
TriOptima’s expanded support for AcadiaSoft’s new interest payments messaging will allow the wider industry to benefit from increased efficiencies.
According to International Swap Dealers Association data, cash collateral accounts for approximately 70 percent of all collateral exchanged for non-cleared derivatives, equivalent to $1.3 trillion in 2019 alone.
Neil Murphy, business manager at TriOptima, explained: “Our clients are aiming to automate large parts of their collateral management lifecycle as they prepare for upcoming phases of the uncleared margin rules.”
“Enabling clients to process interest in an efficient way, that allows reconciliation of underlying balances and automated matching, is part of that process.”
Mark Demo, head of community development at AcadiaSoft, added: “This is another step toward complete collateral process automation and will help more firms reduce the amount of time required to complete their monthly cash collateral interest process.”
The two firms previously partnered through triResolve Margin, which connected over 200 counterparties to the AcadiaSoft network.
