APAC Firms Select TriOptima for Reconciliation

The majority of Asian-Pacific based institutions are using TriOptima’s portfolio reconciliations services as impending regulatory changes begins to take hold, according to the post-trade firm.
By Joe Parsons(2147488729)
The majority of Asian-Pacific based institutions are using TriOptima’s portfolio reconciliations services as impending regulatory changes begins to take hold, according to the post-trade firm.

Incoming regulations on collateral requirements set by the International Organisation of Securities Commissions (IOSCO) have encouraged APAC firms to turn to portfolio reconciliation so they are fully prepared when the rules are rolled out.

In addition they have been encouraged to use these services to accommodate their U.S. and European counterparties that are required to reconcile their portfolios and manage their collateral disputes.

“The introduction of two-way variation margin in 2015 will necessitate firms adopt a robust reconciliation and dispute resolution process like that offered by triResolve,” adds Yutaka Imanishi, CEO, TriOptima Asia Pacific.

Users of triResolve in the APAC region include banks, insurance companies, securities firms, energy companies, hedge funds, investment managers and sovereign wealth funds in Australia, Hong Kong, Japan, Singapore, South Korea and Taiwan.

“Although we are not currently required by our regulations to reconcile our portfolios we find it to be best practice and efficient,” says Brendan Byrne, head of collateral management and OTC reform, Suncorp Bank in Australia.

TriOptima reports that 79 firms in APAC are proactively using its triResolve portfolio reconciliation, and globally, the number of firms using the service has grown by 350% to 1200 since 2012.

Its service includes cleared and exchange-traded transactions, as well as repos and securities lending transactions, and currently reconciles 75% of all global OTC derivatives trades.

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