TriOptima and DTCC Data Connectivity Go Live in Europe for EMIR OTC Derivatives Reporting
- The new service enables daily reconciliation of OTC derivatives trades reported to DTCC’s European trade repository via triResolve, as mandated by the European Market Infrastructure Regulation (EMIR).
TriOptima, ICAP's OTC-derivative, post-trade Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term services, announced today that data connectivity between the Derivatives Repository Ltd. (DDRL) of the Depository Trust & Clearing Corporation (DTCC) and TriOptima’s triResolve portfolio reconciliation service is now live and operational.
The service enables daily reconciliation of OTC derivatives trades reported to DTCC’s European trade repository, as mandated by the European Market Infrastructure Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (EMIR). Under European rules, derivatives dealers and end users are required to report their OTC derivatives transactions to a trade repository and are responsible for the accuracy of the reported data.
Ian McLelland, CEO of DTCC’s European trade repository said: “The connectivity to the triResolve service is an important partnership for DTCC. As Europe’s largest trade repository, we will continue to work with the industry, the regulatory community and our third party providers to promote greater common standards which will continue to improve the transparency and risk mitigation in the derivatives markets.”
This development cements the DTCC's global reach after last year's CFTC mandated implementation in the US. Earlier this year, the Australian regulator also made OTC trade reporting mandatory in their market with the local extension of DTCC service.
The new connectivity allows European derivatives dealers to compare and match DTCC trade records with their internal trade records or records from another trade repository even if the unique trade identifiers are unmatched. With visibility across all the reported data fields in triResolve, firms can identify any discrepancies.
“Implementing this connectivity enables firms to use triResolve to efficiently verify data in the repositories,” said Raf Pritchard, CEO of triResolve. “This is an important tool to ensure accuracy of data in the repositories, a key regulatory goal.”
TriOptima, ICAP's OTC-derivative, post-trade Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term services, announced today that data connectivity between the Derivatives Repository Ltd. (DDRL) of the Depository Trust & Clearing Corporation (DTCC) and TriOptima’s triResolve portfolio reconciliation service is now live and operational.
The service enables daily reconciliation of OTC derivatives trades reported to DTCC’s European trade repository, as mandated by the European Market Infrastructure Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (EMIR). Under European rules, derivatives dealers and end users are required to report their OTC derivatives transactions to a trade repository and are responsible for the accuracy of the reported data.
Ian McLelland, CEO of DTCC’s European trade repository said: “The connectivity to the triResolve service is an important partnership for DTCC. As Europe’s largest trade repository, we will continue to work with the industry, the regulatory community and our third party providers to promote greater common standards which will continue to improve the transparency and risk mitigation in the derivatives markets.”
This development cements the DTCC's global reach after last year's CFTC mandated implementation in the US. Earlier this year, the Australian regulator also made OTC trade reporting mandatory in their market with the local extension of DTCC service.
The new connectivity allows European derivatives dealers to compare and match DTCC trade records with their internal trade records or records from another trade repository even if the unique trade identifiers are unmatched. With visibility across all the reported data fields in triResolve, firms can identify any discrepancies.
“Implementing this connectivity enables firms to use triResolve to efficiently verify data in the repositories,” said Raf Pritchard, CEO of triResolve. “This is an important tool to ensure accuracy of data in the repositories, a key regulatory goal.”