Data reconciliation firm TriOptima will link to the Depository Trust and Clearing Corporation (DTCC) to support data verification and help market participants with portfolio reconciliation for OTC derivatives.
Making repository data directly available to the reconciliation process contributes to data accuracy and creates opportunities to combine workflows and simplify operations as mandatory reporting of swaps data ramps up.
This latest move is part of TriOptima’s strategy to connect to multiple platforms across the OTC derivatives landscape including central clearing houses, confirmation platforms, repositories and other providers of trade processing, to develop cross-system efficiencies for films.
Stewart Macbeth, President and CEO of DTCC’s Deriv/SERV subsidiary said increased linkages between service providers would 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.”
TriOptima’s triResolve service for portfolio reconciliation in collateral management activities is used by around 300 firms and supports the mandatory reconciliation requirements coming into force on 1 July in the US and 15 September in Europe. TriOptima has also established links with other market participants including the DTCC Trade Information Warehouse, MarkitSERV, SGX, and LCH SwapClear.