ATP, BlueBay Asset Management, BlueMountain Capital, Cairn Capital, CPPIB (Canada Pension Plan Investment Board), Freddie Mac, Insight Investment, and Wells Fargo Global Fund Services are among the buy side firms and servicers adopting TriOptima’s triResolve counterparty exposure management service.
Buy side firms are looking to proactively implement best practice in risk management and portfolio reconciliation ahead of changes in OTC derivatives market practice and regulation.
triResolve, with over 200 firms in the network, regularly reconciles 6.3 million OTC derivative trades representing 90 per cent of the collateralized OTC derivatives market. As Dodd Frank and EMIR regulations are activated in the US and Europe, regular, proactive reconciliation of most OTC derivative portfolios will be required, prompting additional buy side firms to join triResolve.
“Insight adopted triResolve almost four years ago and is already compliant with the coming regulations requiring proactive portfolio reconciliations,” says Atul Manek, chief operating officer and chief financial officer of Insight Investment. “With all our counterparties part of the network solution, it’s a one-stop shop that does all the heavy lifting.”
“While our successful OTC derivatives reconciliation platform initially attracts buy side clients, once they are part of the network they find new applications for triResolve including reconciliation of cleared trades, repo and stock lending trades, collateral positions and even exchange-traded trades,” says Raf Pritchard (pictured), chief executive of triResolve. “Buy side firms are also interested in reconciling their records with what their counterparties report to the newly- established swap data repositories.”