TriOptima Adds Support for SWIFT to triResolve Margin Service

TriOptima, part of the CME Group, announced this Tuesday that it has expanded its triResolve Margin collateral management service by adding support for automated SWIFT payment capabilities.

TriOptima is an infrastructure service that helps reduce risk in over the counter (OTC) derivatives markets. The company's triResolve service helps users manage counterparty credit risk, as well as ensure regulatory compliance. It does this by automating its clients' processes and highlighting the exceptions.

With CME-group's acquisition of the NEX group towards the end of 2018, TriOptima became a subsidiary of the American financial market company. The buyout deal was worth £3.9 billion ($5.1 billion).

TriOptima clients can instantly connect to SWIFT

The newly expanded settle Automation Automation Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Read this Term service allows clients of TriOptima to instantly connect to the SWIFT network for cash transfers and securities settlement, the statement released today said.

Furthermore, with the expansion of triResolve, clients will have direct access to a broad range of custodians and tri-party agents, the infrastructure service said this Tuesday.

Commenting on the expansion, Raf Pritchard, Executive Director, Head of triResolve, said in the statement: "Collateral settlement is often a manual and onerous task for firms, often requiring them to log into a custodian's portal or even use a fax."

"Combining triResolve Margin with a centrally hosted SWIFT infrastructure removes the headache of connecting to multiple custodians, helping clients to lower transaction costs and significantly reduce settlement risk."

According to the statement published this Tuesday, by adding support for SWIFT, clients of TriOptima that are in-scope for phases five and six of the BCBS/IOSCO Uncleared Margin Rules can instruct SWIFT Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term directly via the platform.

With the latest expansion to its triResolve Margin service, clients will also be able to automate the full collateral management process across both initial and variation margin, the company said in today's statement.