TriOptima Partners with CME Group for OTC Trade Repository Initiative

TriOptima and CME Group are teaming up to provide clients with portfolio trade repository data for multiple asset classes and verification for over-the-counter (OTC) derivatives, according to an ICAP statement.

TriOptima has established itself across the industry as a post-trade risk management provider for OTC derivatives, having brokered deals with leading exchanges and groups recently – conversely, the move was necessitated by joint clients with CME Group’s Swap Data Repository (SDR) using the triResolve platform.

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According to Jonathan Thursby, President of CME SDR, in a recent statement on the partnership, “Connectivity with TriOptima enables our clients to comply with the CFTC mandates on swap data reporting, verification and portfolio reconciliation rules. Our mutual clients are now well positioned to manage regulatory obligations on their positions efficiently.”

Forex and Other Asset Classes to Benefit from Partnership

The partnership will ensure the data connectivity between CME’s SDR and the triResolve platform, fostering improved reconciliation and clearing means for clients using forex, commodities and credit transactions. The cohesiveness between the two organizations is also designed to help iron out any discrepancies or problems in the clearing process for these transactions.

“This new service both contributes to data accuracy and creates opportunities for efficient workflow for industry participants, including performing regulatory reconciliations. We believe that this kind of cooperation and interconnectivity is a logical step, leveraging existing, proven services to meet regulatory goals and thereby serving client needs in the new post trade landscape,” added Raf Pritchard, CEO of triResolve, in a following statement.